AMF Tjanstepension AB Buys Shares of 296,824 Ally Financial Inc. (NYSE:ALLY)

AMF Tjanstepension AB bought a new stake in Ally Financial Inc. (NYSE:ALLY) during the first quarter, Holdings Channel.com reports. The firm bought 296,824 shares of the financial services provider’s stock, valued at approximately $12,048,000.

A number of other hedge funds also recently added to or reduced their stakes in ALLY. Wealth Enhancement Advisory Services LLC raised its position in shares of Ally Financial by 1.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,253 shares of the financial services provider’s stock worth $1,309,000 after buying an additional 484 shares in the last quarter. Signet Financial Management LLC raised its position in shares of Ally Financial by 4.8% during the 1st quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock worth $295,000 after buying an additional 330 shares in the last quarter. First Financial Corp IN bought a new stake in shares of Ally Financial during the 1st quarter worth about $81,000. Banque Cantonale Vaudoise raised its position in shares of Ally Financial by 309.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 99,315 shares of the financial services provider’s stock worth $4,031,000 after buying an additional 75,063 shares in the last quarter. Finally, Polianta Ltd bought a new stake in shares of Ally Financial during the 1st quarter worth about $1,164,000. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Stock Performance

Shares of ALLY opened at $39.65 on Friday. The company’s 50 day moving average price is $39.31 and its 200 day moving average price is $37.41. Ally Financial Inc. has a 52 week low of $22.54 and a 52 week high of $41.77. The company has a market capitalization of $12.05 billion, a PE ratio of 16.18, a PEG ratio of 0.48 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Research analysts expect that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Tuesday, April 30th. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Analysts Set New Price Targets

A number of research firms have commented on ALLY. Compass Point boosted their price target on shares of Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. BTIG Research began coverage on shares of Ally Financial in a research note on Friday, June 7th. They issued a “buy” rating and a $51.00 price objective on the stock. JPMorgan Chase & Co. cut shares of Ally Financial from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $37.00 to $39.00 in a research note on Wednesday, April 3rd. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Ally Financial from $29.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.00.

About Ally Financial

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.