Daiwa Securities Group Inc. Grows Stake in Ally Financial Inc. (NYSE:ALLY)

Daiwa Securities Group Inc. lifted its stake in Ally Financial Inc. (NYSE:ALLY) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,009 shares of the financial services provider’s stock after purchasing an additional 1,400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ally Financial were worth $754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ALLY. Andra AP fonden raised its holdings in Ally Financial by 30.2% in the second quarter. Andra AP fonden now owns 366,100 shares of the financial services provider’s stock worth $14,523,000 after buying an additional 85,000 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in Ally Financial by 4.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 249,340 shares of the financial services provider’s stock worth $9,891,000 after acquiring an additional 11,755 shares during the last quarter. United Services Automobile Association lifted its position in Ally Financial by 3.7% in the 2nd quarter. United Services Automobile Association now owns 21,332 shares of the financial services provider’s stock valued at $846,000 after acquiring an additional 753 shares in the last quarter. Choreo LLC purchased a new stake in Ally Financial during the 2nd quarter valued at $362,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Ally Financial in the 2nd quarter worth $41,000. Institutional investors own 88.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BTIG Research assumed coverage on Ally Financial in a research report on Friday, June 7th. They set a “buy” rating and a $51.00 price objective on the stock. Citigroup began coverage on shares of Ally Financial in a report on Monday, June 24th. They set a “buy” rating and a $50.00 price objective for the company. Bank of America lowered their price objective on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Wells Fargo & Company boosted their target price on shares of Ally Financial from $33.00 to $37.00 and gave the company an “underweight” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley dropped their price target on Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Ally Financial currently has an average rating of “Hold” and an average price target of $41.65.

Ally Financial Price Performance

NYSE:ALLY opened at $32.97 on Monday. The stock has a market cap of $10.02 billion, a PE ratio of 13.46, a P/E/G ratio of 0.32 and a beta of 1.40. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The business’s 50-day simple moving average is $41.30 and its two-hundred day simple moving average is $39.75. Ally Financial Inc. has a 52 week low of $22.54 and a 52 week high of $45.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm earned $0.96 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. As a group, analysts forecast that Ally Financial Inc. will post 3.51 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.64%. Ally Financial’s dividend payout ratio is 48.98%.

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.