Strs Ohio acquired a new position in shares of Ally Financial Inc. (NYSE:ALLY – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,749 shares of the financial services provider’s stock, valued at approximately $1,377,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ALLY. Allspring Global Investments Holdings LLC purchased a new position in Ally Financial during the first quarter worth about $1,998,000. Teacher Retirement System of Texas purchased a new position in Ally Financial in the first quarter worth approximately $1,462,000. Bessemer Group Inc. raised its holdings in Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 377 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Ally Financial by 56.3% during the first quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider’s stock worth $2,466,000 after purchasing an additional 24,372 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Ally Financial by 40.6% in the 1st quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 952 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
A number of research firms recently weighed in on ALLY. Citigroup lifted their price objective on shares of Ally Financial from $59.00 to $70.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley reissued an “overweight” rating and issued a $47.00 target price (up previously from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. Wells Fargo & Company raised shares of Ally Financial from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $37.00 to $45.00 in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. upped their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Finally, Truist Financial boosted their target price on Ally Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and a consensus price target of $44.40.
View Our Latest Analysis on Ally Financial
Ally Financial Price Performance
Shares of NYSE ALLY opened at $43.96 on Thursday. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $44.71. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The business’s fifty day moving average price is $39.72 and its two-hundred day moving average price is $36.75. The firm has a market capitalization of $13.53 billion, a PE ratio of 28.55, a P/E/G ratio of 0.34 and a beta of 1.14.
Ally Financial (NYSE:ALLY – Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.21. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.97 earnings per share. On average, research analysts expect that Ally Financial Inc. will post 3.57 EPS for the current year.
Ally Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial’s dividend payout ratio (DPR) is 77.92%.
Ally Financial Profile
(Free Report)
Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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