Daiwa Securities Group Inc. Purchases 1,400 Shares of Ally Financial Inc. (NYSE:ALLY)

Daiwa Securities Group Inc. grew its position in shares of Ally Financial Inc. (NYSE:ALLY) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,009 shares of the financial services provider’s stock after purchasing an additional 1,400 shares during the period. Daiwa Securities Group Inc.’s holdings in Ally Financial were worth $754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALLY. Allspring Global Investments Holdings LLC lifted its position 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 buying an additional 526 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Ally Financial during the first quarter worth approximately $28,000. Rise Advisors LLC bought a new stake in shares of Ally Financial in the 1st quarter worth approximately $32,000. SYSTM Wealth Solutions LLC boosted its stake 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 valued at $38,000 after purchasing an additional 789 shares in the last quarter. Finally, Quarry LP boosted its stake 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 valued at $33,000 after purchasing an additional 598 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on ALLY shares. Evercore ISI boosted their price target on shares of Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Royal Bank of Canada lowered their target price on Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Barclays lowered 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ally Financial from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.65.

Ally Financial Stock Up 0.4 %

ALLY stock opened at $32.97 on Monday. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. The business’s 50 day moving average price is $41.30 and its two-hundred day moving average price is $39.75. Ally Financial Inc. has a fifty-two week low of $22.54 and a fifty-two week high of $45.46.

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

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.64%. The ex-dividend date was Thursday, August 1st. Ally Financial’s payout ratio is currently 48.98%.

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.