QRG Capital Management Inc. Boosts Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

QRG Capital Management Inc. lifted its holdings in Ally Financial Inc. (NYSE:ALLY) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 103,943 shares of the financial services provider’s stock after purchasing an additional 1,707 shares during the period. QRG Capital Management Inc.’s holdings in Ally Financial were worth $3,699,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position 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 valued at $25,000 after acquiring an additional 526 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Ally Financial during the first quarter valued at about $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Ally Financial in the second quarter valued at about $41,000. Hobbs Group Advisors LLC bought a new position in Ally Financial in the second quarter worth about $52,000. Finally, First Community Trust NA purchased a new stake in shares of Ally Financial during the second quarter valued at about $53,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Price Performance

NYSE:ALLY opened at $37.87 on Thursday. The firm’s fifty day moving average is $35.82 and its two-hundred day moving average is $38.86. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.41 and a beta of 1.40. Ally Financial Inc. has a one year low of $25.16 and a one year high of $45.46. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Ally Financial Inc. will post 3 EPS for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, November 1st. Ally Financial’s dividend payout ratio is currently 48.00%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Bank of America cut their price objective on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. BTIG Research downgraded Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company lowered their price objective on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, September 26th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Finally, JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $46.00 to $40.00 in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.38.

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.