American Century Companies Inc. Boosts Stake in Ally Financial Inc. (NYSE:ALLY)

American Century Companies Inc. increased its position in Ally Financial Inc. (NYSE:ALLY) by 12.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 459,945 shares of the financial services provider’s stock after purchasing an additional 52,111 shares during the period. American Century Companies Inc. owned 0.15% of Ally Financial worth $18,246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its position in Ally Financial by 1.2% in the 2nd quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock valued at $923,000 after acquiring an additional 278 shares during the period. Trust Co. of Toledo NA OH increased its position in Ally Financial by 1.7% in the 1st quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider’s stock valued at $715,000 after acquiring an additional 287 shares during the period. Signet Financial Management LLC increased its position in Ally Financial by 4.8% in the 1st quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 330 shares during the period. Blue Trust Inc. increased its position in Ally Financial by 10.2% in the 2nd quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 400 shares during the period. Finally, Versant Capital Management Inc increased its position in Ally Financial by 39.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,630 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 463 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALLY. Royal Bank of Canada dropped their price target on Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. Bank of America dropped their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley dropped their target price on 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 Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Finally, Evercore ISI boosted their target price on Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Ally Financial has an average rating of “Hold” and an average price target of $41.41.

Ally Financial Price Performance

ALLY stock opened at $34.49 on Friday. Ally Financial Inc. has a 1 year low of $22.54 and a 1 year 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 stock’s 50 day moving average price is $40.54 and its 200 day moving average price is $39.61. The firm has a market cap of $10.48 billion, a P/E ratio of 14.08, a PEG ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $0.96 EPS. Ally Financial’s revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts expect that Ally Financial Inc. will post 3.51 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, August 1st. Ally Financial’s dividend payout ratio is presently 48.98%.

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.