Franklin Resources Inc. Boosts Stock Position in Ally Financial Inc. (NYSE:ALLY)

Franklin Resources Inc. lifted its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 184.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 532,090 shares of the financial services provider's stock after purchasing an additional 345,210 shares during the quarter. Franklin Resources Inc. owned about 0.17% of Ally Financial worth $19,044,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in shares of Ally Financial by 5.8% in the 3rd quarter. Tidal Investments LLC now owns 25,999 shares of the financial services provider's stock worth $925,000 after buying an additional 1,416 shares in the last quarter. Sanctuary Advisors LLC grew its position in Ally Financial by 26.1% in the third quarter. Sanctuary Advisors LLC now owns 22,516 shares of the financial services provider's stock worth $852,000 after acquiring an additional 4,663 shares in the last quarter. Virtu Financial LLC purchased a new position in Ally Financial in the third quarter worth about $450,000. Toronto Dominion Bank increased its stake in Ally Financial by 31.3% during the third quarter. Toronto Dominion Bank now owns 34,495 shares of the financial services provider's stock worth $1,228,000 after acquiring an additional 8,217 shares during the last quarter. Finally, Neo Ivy Capital Management raised its position in Ally Financial by 117.7% during the third quarter. Neo Ivy Capital Management now owns 15,658 shares of the financial services provider's stock valued at $558,000 after purchasing an additional 8,466 shares during the period. 88.76% of the stock is owned by institutional investors.

Ally Financial Stock Up 0.7 %

NYSE:ALLY traded up $0.23 during midday trading on Friday, reaching $34.86. 5,071,535 shares of the stock traded hands, compared to its average volume of 3,463,799. The business has a 50-day moving average of $36.71 and a two-hundred day moving average of $38.50. The stock has a market capitalization of $10.62 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.46 and a beta of 1.42. 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 Inc. has a 12-month low of $31.77 and a 12-month high of $45.46.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share 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 during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the firm earned $0.83 EPS. The business's quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Friday, November 1st. Ally Financial's payout ratio is currently 48.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ALLY shares. Royal Bank of Canada reissued an "outperform" rating and set a $40.00 target price on shares of Ally Financial in a research report on Monday, October 21st. Wells Fargo & Company reduced their target price on shares of Ally Financial from $37.00 to $32.00 and set an "underweight" rating on the stock in a research note on Thursday, September 26th. TD Cowen dropped their price target on shares of Ally Financial from $45.00 to $37.00 and set a "hold" rating for the company in a research note on Monday, September 23rd. Wolfe Research downgraded Ally Financial from an "outperform" rating to a "peer perform" rating in a research report on Thursday, December 5th. Finally, Evercore ISI reduced their target price on shares of Ally Financial from $47.00 to $38.00 and set an "in-line" rating on the stock in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Ally Financial has an average rating of "Hold" and a consensus price target of $42.14.

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.