Abich Financial Wealth Management LLC Raises Stock Position in Ally Financial Inc. (NYSE:ALLY)

Abich Financial Wealth Management LLC lifted its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 12,535.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,527 shares of the financial services provider’s stock after purchasing an additional 2,507 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Ally Financial were worth $100,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised 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 valued at $25,000 after purchasing an additional 526 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Ally Financial during the 1st quarter worth about $28,000. Rise Advisors LLC purchased a new stake in Ally Financial during the first quarter worth approximately $32,000. Quarry LP boosted its holdings in Ally Financial by 165.7% in the fourth 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. Finally, SYSTM Wealth Solutions LLC increased its stake in Ally Financial by 571.7% in the first 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 during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Performance

Shares of ALLY opened at $34.18 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. Ally Financial Inc. has a 52-week low of $22.54 and a 52-week high of $45.46. The company has a 50-day simple moving average of $40.14 and a 200-day simple moving average of $39.62. The company has a market capitalization of $10.39 billion, a PE ratio of 13.95, a P/E/G ratio of 0.37 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.33. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. Ally Financial’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share. Equities research analysts predict that Ally Financial Inc. will post 3.15 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

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 $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.51%. Ally Financial’s payout ratio is 48.98%.

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of research analyst reports. Evercore ISI upped their target price on Ally Financial from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Barclays lowered their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company increased their price target on shares of Ally Financial from $33.00 to $37.00 and gave the stock an “underweight” rating in a research note on Thursday, July 18th. TD Cowen dropped their price objective on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased 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 note on Monday, July 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Ally Financial has a consensus rating of “Hold” and a consensus price target of $41.06.

Ally Financial Company 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.