State Street Corp Increases Position in Ally Financial Inc. (NYSE:ALLY)

State Street Corp boosted its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,704,719 shares of the financial services provider's stock after acquiring an additional 51,426 shares during the period. State Street Corp owned about 3.51% of Ally Financial worth $380,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in shares of Ally Financial in the 3rd quarter worth approximately $21,571,000. Investment Management Corp of Ontario boosted its stake in 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 worth $324,000 after purchasing an additional 3,000 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Ally Financial by 217.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider's stock worth $81,260,000 after purchasing an additional 1,563,008 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new position in Ally Financial during the 3rd quarter valued at approximately $1,720,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Ally Financial in the third quarter worth $4,635,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Price Performance

ALLY traded up $0.18 on Tuesday, reaching $38.55. 2,384,117 shares of the company's stock were exchanged, compared to its average volume of 3,452,629. Ally Financial Inc. has a twelve month low of $29.68 and a twelve month high of $45.46. The stock has a market cap of $11.75 billion, a PE ratio of 15.42, a P/E/G ratio of 0.46 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. The stock's fifty day moving average price is $36.38 and its 200-day moving average price is $38.59.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating 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 firm had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The company's revenue was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Ally Financial Inc. will post 3 EPS for the current year.

Ally Financial Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company cut their target price 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. JPMorgan Chase & Co. raised their price objective on Ally Financial from $40.00 to $42.00 and gave the stock an "overweight" rating in a research note on Monday. Bank of America dropped their target price on Ally Financial from $46.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley decreased their price objective on shares of Ally Financial from $45.00 to $41.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Finally, Evercore ISI cut their price objective on shares of Ally Financial from $47.00 to $38.00 and set an "in-line" rating on the stock in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $41.73.

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.