Sumitomo Mitsui Trust Group Inc. Has $22.50 Million Stock Position in Ally Financial Inc. (NYSE:ALLY)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Ally Financial Inc. (NYSE:ALLY) by 9.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 632,171 shares of the financial services provider’s stock after purchasing an additional 53,727 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ally Financial were worth $22,499,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ALLY. Allspring Global Investments Holdings LLC boosted its holdings in Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 526 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Ally Financial in the 1st quarter worth about $28,000. Venturi Wealth Management LLC lifted its position in shares of Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after buying an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Ally Financial in the 2nd quarter worth approximately $41,000. Finally, Allworth Financial LP grew its holdings in shares of Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 421 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ALLY shares. Bank of America dropped their price target on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Keefe, Bruyette & Woods cut their price target on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. BTIG Research downgraded shares of Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. Citigroup boosted their target price on shares of Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $40.00 price target on shares of Ally Financial in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.69.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $36.22 on Monday. The stock’s 50-day simple moving average is $35.14 and its two-hundred day simple moving average is $38.75. Ally Financial Inc. has a twelve month low of $26.50 and a twelve month high of $45.46. The firm has a market capitalization of $11.04 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.43 and a beta of 1.40. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $0.83 earnings per share. Ally Financial’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio is currently 48.00%.

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.