Bank of Montreal Can grew its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 59.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 84,139 shares of the financial services provider's stock after acquiring an additional 31,395 shares during the period. Bank of Montreal Can's holdings in Ally Financial were worth $2,942,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of Ally Financial by 42.1% during the second quarter. GAMMA Investing LLC now owns 3,070 shares of the financial services provider's stock valued at $122,000 after buying an additional 909 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Ally Financial by 22.7% in the second quarter. DNB Asset Management AS now owns 46,707 shares of the financial services provider's stock worth $1,853,000 after purchasing an additional 8,653 shares in the last quarter. CWM LLC boosted its holdings in shares of Ally Financial by 10.3% during the second quarter. CWM LLC now owns 8,395 shares of the financial services provider's stock worth $333,000 after purchasing an additional 782 shares during the period. OLD National Bancorp IN grew its position in Ally Financial by 3.8% during the second quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider's stock valued at $34,933,000 after purchasing an additional 32,478 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in Ally Financial by 3.2% in the 2nd quarter. QRG Capital Management Inc. now owns 102,236 shares of the financial services provider's stock valued at $4,056,000 after buying an additional 3,218 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.
Ally Financial Price Performance
Shares of NYSE:ALLY traded down $0.47 during midday trading on Thursday, reaching $38.37. 2,390,292 shares of the company's stock were exchanged, compared to its average volume of 3,456,902. Ally Financial Inc. has a 12 month low of $29.05 and a 12 month 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. The firm has a market capitalization of $11.69 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.47 and a beta of 1.42. The company's 50 day simple moving average is $36.26 and its two-hundred day simple moving average is $38.61.
Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.38. The company had revenue of $2.10 billion during 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 business's revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $0.83 earnings per share. Equities research analysts expect that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.
Ally Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Friday, November 1st. Ally Financial's dividend payout ratio is currently 48.00%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. BTIG Research lowered shares of Ally Financial from a "buy" rating to a "neutral" rating in a research note on Monday, September 16th. TD Cowen dropped their target price on Ally Financial from $45.00 to $37.00 and set a "hold" rating on the stock in a research report on Monday, September 23rd. Citigroup lifted their price target on Ally Financial from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, November 15th. Evercore ISI dropped their price objective 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. Finally, StockNews.com upgraded shares of Ally Financial from a "sell" rating to a "hold" rating in a research note on Saturday, October 19th. One research 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 stock has an average rating of "Hold" and a consensus target price of $40.80.
Check Out Our Latest Research Report on ALLY
About Ally Financial
(
Free Report)
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.
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