Point72 Asset Management L.P. Purchases New Position in Ally Financial Inc. (NYSE:ALLY)

Point72 Asset Management L.P. bought a new stake in Ally Financial Inc. (NYSE:ALLY - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 606,092 shares of the financial services provider's stock, valued at approximately $21,571,000. Point72 Asset Management L.P. owned approximately 0.20% of Ally Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Management Corp of Ontario lifted its stake in shares of Ally Financial by 49.3% in the 3rd quarter. Investment Management Corp of Ontario now owns 9,090 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 3,000 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Ally Financial by 217.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider's stock valued at $81,260,000 after buying an additional 1,563,008 shares during the period. HITE Hedge Asset Management LLC acquired a new stake in shares of Ally Financial during the 3rd quarter worth approximately $1,720,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Ally Financial during the 3rd quarter worth approximately $4,635,000. Finally, Hilltop Holdings Inc. lifted its stake in shares of Ally Financial by 6.2% in the third quarter. Hilltop Holdings Inc. now owns 22,916 shares of the financial services provider's stock valued at $816,000 after buying an additional 1,346 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALLY. Keefe, Bruyette & Woods decreased their target price 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. Evercore ISI cut their price target on shares of Ally Financial from $47.00 to $38.00 and set an "in-line" rating for the company in a research note on Monday, October 7th. Barclays cut their price objective on shares of Ally Financial from $44.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, September 12th. Citigroup boosted their price target on shares of Ally Financial from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company reduced their price target on Ally Financial from $37.00 to $32.00 and set an "underweight" rating on the stock in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $40.80.

Ally Financial Trading Up 0.5 %

ALLY stock traded up $0.18 during trading on Friday, reaching $38.55. 3,275,340 shares of the stock traded hands, compared to its average volume of 3,456,556. The firm has a market capitalization of $11.75 billion, a PE ratio of 15.42, a P/E/G ratio of 0.47 and a beta of 1.42. 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 Inc. has a 52-week low of $29.05 and a 52-week high of $45.46. The business's 50 day moving average price is $36.33 and its 200-day moving average price is $38.60.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.57 by $0.38. The business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The company's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 earnings per share. As a group, sell-side analysts forecast that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.11%. Ally Financial's payout ratio is 48.00%.

Ally Financial 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.