Ally Financial Inc. (NYSE:ALLY) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in Ally Financial Inc. (NYSE:ALLY) by 58.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,466 shares of the financial services provider’s stock after purchasing an additional 18,671 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Ally Financial were worth $1,796,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 526 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Ally Financial during the first quarter worth $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in Ally Financial in the 2nd quarter valued at $41,000. Hobbs Group Advisors LLC acquired a new stake in shares of Ally Financial in the 2nd quarter worth $52,000. Finally, First Community Trust NA purchased a new position in shares of Ally Financial during the 2nd quarter worth $53,000. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Stock Down 1.4 %

Shares of NYSE ALLY opened at $34.57 on Monday. The business has a 50-day moving average of $36.24 and a two-hundred day moving average of $38.93. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. Ally Financial Inc. has a 1 year low of $24.72 and a 1 year high of $45.46. 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 (NYSE:ALLY) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.38. The firm 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 firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial’s payout ratio is 48.00%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALLY. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of Ally Financial in a research report on Monday, October 21st. Evercore ISI cut their target price on 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. Morgan Stanley decreased their price target on Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Barclays cut their price objective on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, September 12th. Finally, Wells Fargo & Company decreased 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 report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Ally Financial currently has an average rating of “Hold” and an average target price of $40.38.

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.