Lighthouse Investment Partners LLC Buys Shares of 116,873 Ally Financial Inc. (NYSE:ALLY)

Lighthouse Investment Partners LLC bought a new stake in shares of Ally Financial Inc. (NYSE:ALLY) in the second quarter, Holdings Channel reports. The fund bought 116,873 shares of the financial services provider’s stock, valued at approximately $4,636,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALLY. Allspring Global Investments Holdings LLC increased its holdings in shares of Ally Financial by 510.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 526 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Ally Financial in the first quarter valued at approximately $28,000. Rise Advisors LLC acquired a new stake in shares of Ally Financial in the first quarter valued at approximately $32,000. Quarry LP increased its holdings in shares of Ally Financial by 165.7% in the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 598 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC increased its holdings in shares of Ally Financial by 571.7% in the first quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 789 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Evercore ISI increased their price objective on Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Keefe, Bruyette & Woods lowered their price objective on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. BTIG Research lowered Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Morgan Stanley lowered their price objective on Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.76.

Ally Financial Trading Up 0.4 %

ALLY opened at $34.96 on Friday. The firm has a market cap of $10.63 billion, a P/E ratio of 14.27, a P/E/G ratio of 0.37 and a beta of 1.40. The business has a fifty day simple moving average of $39.81 and a 200-day simple moving average of $39.55. Ally Financial Inc. has a 52 week low of $22.54 and a 52 week high of $45.46. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39.

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

Ally Financial Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. Ally Financial’s dividend payout ratio (DPR) is presently 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.