MBB Public Markets I LLC Purchases New Shares in Ally Financial Inc. (NYSE:ALLY)

MBB Public Markets I LLC purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,139 shares of the financial services provider’s stock, valued at approximately $799,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after buying an additional 526 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in Ally Financial during the first quarter valued at $28,000. Rise Advisors LLC purchased a new position in Ally Financial during the first quarter valued at $32,000. SYSTM Wealth Solutions LLC raised its stake in Ally Financial by 571.7% during the first quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock valued at $38,000 after buying an additional 789 shares during the last quarter. Finally, Quarry LP raised its stake in Ally Financial by 165.7% during the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after buying an additional 598 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price objective on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. JPMorgan Chase & Co. upgraded Ally Financial from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $39.00 to $45.00 in a research note on Monday, July 8th. BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Citigroup started coverage on Ally Financial in a research note on Monday, June 24th. They issued a “buy” rating and a $50.00 price target for the company. Finally, TD Cowen decreased their price target on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.38.

Ally Financial Stock Performance

NYSE:ALLY opened at $34.71 on Wednesday. The stock has a 50-day simple moving average of $39.40 and a two-hundred day simple moving average of $39.51. Ally Financial Inc. has a 52-week low of $22.54 and a 52-week high of $45.46. 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 firm has a market capitalization of $10.55 billion, a PE ratio of 14.17, a P/E/G ratio of 0.37 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. Ally Financial’s revenue for the quarter was down 3.8% on a year-over-year basis. Analysts forecast that Ally Financial Inc. will post 3.15 EPS for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Thursday, August 1st. Ally Financial’s dividend payout ratio is presently 48.98%.

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.