Vanguard Group Inc. Increases Stock Position in Ally Financial Inc. (NYSE:ALLY)

Vanguard Group Inc. raised its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,060,601 shares of the financial services provider’s stock after purchasing an additional 51,106 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Ally Financial worth $979,876,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ALLY. DekaBank Deutsche Girozentrale grew its stake in shares of Ally Financial by 28.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 79,925 shares of the financial services provider’s stock worth $2,114,000 after acquiring an additional 17,666 shares during the period. FMR LLC raised its stake in Ally Financial by 47.1% during the 3rd quarter. FMR LLC now owns 3,316,501 shares of the financial services provider’s stock valued at $88,484,000 after buying an additional 1,061,651 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Ally Financial by 42.3% during the 3rd quarter. Invesco Ltd. now owns 1,068,079 shares of the financial services provider’s stock valued at $28,496,000 after buying an additional 317,510 shares during the period. CI Investments Inc. boosted its stake in shares of Ally Financial by 143.8% in the 3rd quarter. CI Investments Inc. now owns 9,830 shares of the financial services provider’s stock worth $262,000 after buying an additional 5,798 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Ally Financial by 107.4% in the third quarter. Hsbc Holdings PLC now owns 1,062,898 shares of the financial services provider’s stock worth $28,449,000 after acquiring an additional 550,394 shares during the period. Institutional investors own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ALLY shares. Bank of America raised Ally Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $42.00 to $46.00 in a report on Tuesday, April 9th. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Evercore ISI upped their target price on shares of Ally Financial from $41.00 to $43.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. TD Cowen boosted their price objective on shares of Ally Financial from $42.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. cut Ally Financial from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $37.00 to $39.00 in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.00.

Ally Financial Stock Performance

NYSE ALLY opened at $39.82 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. Ally Financial Inc. has a twelve month low of $22.54 and a twelve month high of $41.77. The business has a 50-day moving average price of $39.06 and a 200-day moving average price of $37.07. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.49 and a beta of 1.41.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.12. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. As a group, equities research analysts predict that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.01%. Ally Financial’s dividend payout ratio is currently 48.98%.

Ally Financial Profile

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.