Skandinaviska Enskilda Banken AB publ Buys 1,500 Shares of Ally Financial Inc. (NYSE:ALLY)

Skandinaviska Enskilda Banken AB publ raised its stake in Ally Financial Inc. (NYSE:ALLY) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,719 shares of the financial services provider’s stock after acquiring an additional 1,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Ally Financial were worth $2,290,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ALLY. Fifth Third Bancorp grew its stake in shares of Ally Financial by 1.2% in the 2nd quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock worth $923,000 after buying an additional 278 shares in the last quarter. Trust Co. of Toledo NA OH grew its position in Ally Financial by 1.7% in the first quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 287 shares in the last quarter. Signet Financial Management LLC increased its stake in Ally Financial by 4.8% during the first quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 330 shares during the last quarter. Blue Trust Inc. raised its position in Ally Financial by 10.2% during the second quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 400 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of 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 purchasing an additional 463 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Down 1.4 %

Shares of Ally Financial stock opened at $33.99 on Tuesday. 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 current ratio of 0.92 and a quick ratio of 0.91. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.32 and a beta of 1.40. The firm’s 50-day moving average is $40.35 and its two-hundred day moving average is $39.64.

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, beating the consensus estimate of $0.64 by $0.33. The company had revenue of $2 billion for 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 company posted $0.96 earnings per share. As a group, research analysts expect that Ally Financial Inc. will post 3.51 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued 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 3.53%. Ally Financial’s dividend payout ratio is presently 48.98%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley decreased their price target on Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. Barclays lowered their target price 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. Royal Bank of Canada dropped their price target on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. Evercore ISI increased their price objective on shares of Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, Bank of America dropped their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Ally Financial has an average rating of “Hold” and an average price target of $41.06.

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.