Janney Montgomery Scott LLC Grows Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Janney Montgomery Scott LLC grew its stake in Ally Financial Inc. (NYSE:ALLY) by 68.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,986 shares of the financial services provider’s stock after purchasing an additional 28,114 shares during the period. Janney Montgomery Scott LLC’s holdings in Ally Financial were worth $2,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALLY. Allspring Global Investments Holdings LLC increased its position in shares of Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 526 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Ally Financial in the 1st quarter valued at about $28,000. Ashton Thomas Private Wealth LLC acquired a new position in Ally Financial during the 2nd quarter worth approximately $41,000. Hobbs Group Advisors LLC acquired a new stake in Ally Financial in the second quarter valued at $52,000. Finally, First Community Trust NA purchased a new position in Ally Financial in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALLY shares. Evercore ISI reduced their price objective on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. Wells Fargo & Company dropped their price objective on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, September 26th. Keefe, Bruyette & Woods decreased their price target on Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $46.00 to $40.00 in a research note on Monday, October 7th. Finally, BTIG Research downgraded shares of Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.38.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $37.54 on Tuesday. The business has a 50-day moving average of $35.62 and a 200-day moving average of $38.83. Ally Financial Inc. has a 1-year low of $25.23 and a 1-year high of $45.46. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.45 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is 48.00%.

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.