Seven Eight Capital LP Invests $922,000 in Ally Financial Inc. (NYSE:ALLY)

Seven Eight Capital LP bought a new position in Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,248 shares of the financial services provider’s stock, valued at approximately $922,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Ally Financial by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after acquiring an additional 987,489 shares during the period. Boston Partners bought a new stake in shares of Ally Financial in the first quarter worth about $152,079,000. Bank of New York Mellon Corp increased its holdings in Ally Financial by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,697,251 shares of the financial services provider’s stock valued at $146,670,000 after purchasing an additional 31,491 shares during the period. Donald Smith & CO. Inc. raised its position in Ally Financial by 0.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,774,487 shares of the financial services provider’s stock valued at $112,616,000 after purchasing an additional 21,657 shares during the last quarter. Finally, Scout Investments Inc. bought a new position in Ally Financial during the 4th quarter valued at approximately $63,080,000. 88.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Ally Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $39.00 to $45.00 in a research note on Monday, July 8th. Morgan Stanley reduced their price objective on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Evercore ISI boosted their price target on shares of Ally Financial from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Finally, Barclays lowered their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.41.

Ally Financial Trading Down 1.3 %

NYSE ALLY opened at $34.49 on Friday. Ally Financial Inc. has a 12 month low of $22.54 and a 12 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. The stock’s fifty day moving average price is $40.54 and its 200-day moving average price is $39.61. The stock has a market cap of $10.48 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. The business 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%. Ally Financial’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. As a group, equities analysts forecast that Ally Financial Inc. will post 3.51 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.48%. 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.