Quarry LP Raises Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Quarry LP raised its position in shares of Ally Financial Inc. (NYSE:ALLY) by 311.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,510 shares of the financial services provider’s stock after buying an additional 1,143 shares during the quarter. Quarry LP’s holdings in Ally Financial were worth $60,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ALLY. Boston Partners purchased a new position in Ally Financial during the 1st quarter valued at about $152,079,000. Scout Investments Inc. purchased a new position in shares of Ally Financial during the fourth quarter valued at approximately $63,080,000. Jennison Associates LLC bought a new stake in shares of Ally Financial in the 1st quarter worth approximately $52,252,000. Delta Global Management LP grew its stake in shares of Ally Financial by 3,262.3% in the 1st 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 increased its position in Ally Financial by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after buying an additional 987,489 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Down 0.2 %

ALLY opened at $34.46 on Friday. Ally Financial Inc. has a 1-year low of $22.54 and a 1-year high of $45.46. The firm’s 50 day simple moving average is $39.06 and its two-hundred day simple moving average is $39.44. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $10.47 billion, a PE ratio of 14.06, a PEG ratio of 0.37 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.33. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. Ally Financial’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. As a group, equities analysts forecast that Ally Financial Inc. will post 3.15 EPS for the current year.

Ally Financial Announces Dividend

The company also recently announced 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 3.48%. The ex-dividend date was Thursday, August 1st. Ally Financial’s dividend payout ratio is 48.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented 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 note on Thursday, September 12th. Citigroup initiated coverage on shares of Ally Financial in a research note on Monday, June 24th. They set a “buy” rating and a $50.00 price objective for the company. Bank of America cut their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Barclays decreased their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, September 12th. Finally, BTIG Research downgraded Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.38.

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.