606,092 Shares in Ally Financial Inc. (NYSE:ALLY) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new stake in Ally Financial Inc. (NYSE:ALLY) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 606,092 shares of the financial services provider’s stock, valued at approximately $21,571,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALLY. Allspring Global Investments Holdings LLC grew its position in shares of Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after buying an additional 526 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Ally Financial by 153.9% in the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Ally Financial during the second quarter worth about $41,000. Allworth Financial LP increased its position in shares of Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 421 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Ally Financial in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ALLY. Barclays cut their price target on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. Bank of America reduced their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. JPMorgan Chase & Co. raised shares of Ally Financial from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $46.00 to $40.00 in a research report on Monday, October 7th. Wolfe Research cut shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a report on Thursday. Finally, Evercore ISI lowered their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.80.

Ally Financial Stock Performance

NYSE ALLY opened at $38.37 on Friday. The business’s 50-day simple moving average is $36.26 and its 200-day simple moving average is $38.61. The firm has a market capitalization of $11.69 billion, a P/E ratio of 15.35, a P/E/G ratio of 0.47 and a beta of 1.42. Ally Financial Inc. has a 1-year low of $29.05 and a 1-year high of $45.46. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92.

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

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

Ally Financial Company Profile

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.