23,248 Shares in Ally Financial Inc. (NYSE:ALLY) Purchased by Seven Eight Capital LP

Seven Eight Capital LP bought a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, Holdings Channel reports. The firm bought 23,248 shares of the financial services provider’s stock, valued at approximately $922,000.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in Ally Financial by 3.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 35,909 shares of the financial services provider’s stock valued at $1,254,000 after purchasing an additional 1,126 shares during the period. Norges Bank purchased a new stake in Ally Financial during the 4th quarter valued at $62,869,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Ally Financial during the 4th quarter valued at $459,000. PNC Financial Services Group Inc. boosted its stake in shares of Ally Financial by 17.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 27,613 shares of the financial services provider’s stock worth $964,000 after buying an additional 4,021 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Ally Financial in the fourth quarter worth $160,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $34.49 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.32 and a beta of 1.40. The firm has a fifty day moving average price of $40.54 and a 200 day moving average price of $39.61. Ally Financial Inc. has a fifty-two week low of $22.54 and a fifty-two week high of $45.46.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating 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 firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business posted $0.96 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Ally Financial Inc. will post 3.51 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.48%. Ally Financial’s dividend payout ratio (DPR) is 48.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ALLY shares. Citigroup began coverage on shares of Ally Financial in a research report on Monday, June 24th. They set a “buy” rating and a $50.00 price target for the company. BTIG Research cut shares of Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Keefe, Bruyette & Woods reduced their price objective on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Evercore ISI lifted their target price on Ally Financial from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Finally, Bank of America reduced their price target on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.41.

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.