Employees Retirement System of Texas Raises Stock Position in Ally Financial Inc. (NYSE:ALLY)

Employees Retirement System of Texas boosted its position in shares of Ally Financial Inc. (NYSE:ALLY) by 11.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,489,200 shares of the financial services provider’s stock after acquiring an additional 156,200 shares during the period. Employees Retirement System of Texas owned 0.49% of Ally Financial worth $59,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ALLY. Boston Partners acquired a new position in shares of Ally Financial during the first quarter valued at about $152,079,000. Scout Investments Inc. purchased a new stake in Ally Financial during the 4th quarter worth approximately $63,080,000. Jennison Associates LLC acquired a new position in Ally Financial during the 1st quarter valued at approximately $52,252,000. Delta Global Management LP raised its holdings in shares of Ally Financial by 3,262.3% in the first quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock worth $42,051,000 after buying an additional 1,005,182 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Ally Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock worth $384,715,000 after buying an additional 987,489 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Trading Up 1.3 %

Shares of ALLY stock opened at $34.62 on Thursday. Ally Financial Inc. has a 1-year low of $22.54 and a 1-year high of $45.46. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 0.37 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a 50 day simple moving average of $39.96 and a 200-day simple moving average of $39.58.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities research analysts expect that Ally Financial Inc. will post 3.15 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.47%. The ex-dividend date was Thursday, August 1st. Ally Financial’s payout ratio is 48.98%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALLY shares. Royal Bank of Canada cut their target price on Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft cut their price objective on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, July 1st. Citigroup began coverage on Ally Financial in a report on Monday, June 24th. They set a “buy” rating and a $50.00 target price for the company. Wells Fargo & Company increased their price target on shares of Ally Financial from $33.00 to $37.00 and gave the stock an “underweight” rating in a report on Thursday, July 18th. Finally, Bank of America decreased their price objective on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $41.06.

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.