Commonwealth Equity Services LLC Boosts Stake in Ally Financial Inc. (NYSE:ALLY)

Commonwealth Equity Services LLC raised its stake in Ally Financial Inc. (NYSE:ALLYFree Report) by 12.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 74,871 shares of the financial services provider’s stock after buying an additional 8,484 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Ally Financial were worth $3,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Northwest Financial Advisors purchased a new position in Ally Financial during the fourth quarter worth $31,000. Rise Advisors LLC purchased a new position in shares of Ally Financial during the 1st quarter worth about $32,000. Quarry LP boosted its position in shares of Ally Financial by 165.7% in the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 598 shares during the last quarter. SYSTM Wealth Solutions LLC grew its holdings 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 period. Finally, Friedenthal Financial purchased a new position in Ally Financial during the fourth quarter worth approximately $50,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Stock Down 2.2 %

Shares of NYSE ALLY traded down $0.89 during trading hours on Friday, hitting $39.56. The stock had a trading volume of 999,971 shares, compared to its average volume of 3,372,330. The firm’s 50-day moving average price is $39.35 and its two-hundred day moving average price is $37.61. Ally Financial Inc. has a 52 week low of $22.54 and a 52 week high of $41.77. The company has a market capitalization of $12.03 billion, a P/E ratio of 16.35, a P/E/G ratio of 0.49 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLYGet Free Report) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.12. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 EPS. Analysts anticipate that Ally Financial Inc. will post 3.02 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.03%. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALLY shares. BTIG Research began coverage on Ally Financial in a report on Friday, June 7th. They issued a “buy” rating and a $51.00 target price on the stock. BMO Capital Markets boosted their price target on Ally Financial from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. lowered shares of Ally Financial from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $37.00 to $39.00 in a research note on Wednesday, April 3rd. Compass Point upped their target price on shares of Ally Financial from $28.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, raised shares of Ally Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.18.

View Our Latest Analysis on ALLY

Ally Financial Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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