32,029 Shares in Ally Financial Inc. (NYSE:ALLY) Bought by Acadian Asset Management LLC

Acadian Asset Management LLC purchased a new position in shares of Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 32,029 shares of the financial services provider’s stock, valued at approximately $1,269,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after buying an additional 526 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Ally Financial in the 1st quarter worth about $28,000. Rise Advisors LLC bought a new stake in shares of Ally Financial in the 1st quarter worth about $32,000. Quarry LP increased its position in shares of Ally Financial by 165.7% in the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 598 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC increased its position in shares of Ally Financial by 571.7% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 789 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Trading Up 0.4 %

Shares of NYSE:ALLY opened at $32.97 on Monday. The company has a 50 day moving average of $41.30 and a 200-day moving average of $39.75. The firm has a market cap of $10.02 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.32 and a beta of 1.40. Ally Financial Inc. has a twelve month low of $22.54 and a twelve month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. As a group, analysts anticipate that Ally Financial Inc. will post 3.51 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, August 1st. Ally Financial’s dividend payout ratio is currently 48.98%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALLY shares. Keefe, Bruyette & Woods boosted their target price on shares of Ally Financial from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Royal Bank of Canada decreased their price target on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised shares of Ally Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $39.00 to $45.00 in a report on Monday, July 8th. Evercore ISI lifted their price target on shares of Ally Financial from $43.00 to $45.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Finally, Wells Fargo & Company lifted their price target on shares of Ally Financial from $33.00 to $37.00 and gave the company an “underweight” rating in a report on Thursday, July 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.65.

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.