140 Summer Partners LP Buys Shares of 537,800 Ally Financial Inc. (NYSE:ALLY)

140 Summer Partners LP bought a new position in Ally Financial Inc. (NYSE:ALLY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 537,800 shares of the financial services provider’s stock, valued at approximately $19,140,000. Ally Financial accounts for about 2.1% of 140 Summer Partners LP’s holdings, making the stock its 15th largest holding. 140 Summer Partners LP owned about 0.18% of Ally Financial as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $25,000 after buying an additional 526 shares during the period. Venturi Wealth Management LLC grew its stake in Ally Financial by 153.9% in the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Ally Financial in the second quarter valued at about $41,000. Allworth Financial LP increased its position in Ally Financial by 41.9% in the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 421 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Ally Financial during the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLY has been the subject of several recent research reports. Wells Fargo & Company lowered their price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of Ally Financial in a research report on Monday, October 21st. Bank of America cut their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. TD Cowen decreased their price objective on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Finally, Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Ally Financial currently has an average rating of “Hold” and a consensus target price of $40.69.

Ally Financial Trading Up 0.2 %

Shares of ALLY stock opened at $39.49 on Thursday. The firm has a market capitalization of $12.03 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 0.46 and a beta of 1.40. Ally Financial Inc. has a 1 year low of $26.50 and a 1 year high of $45.46. The firm’s fifty day simple moving average is $35.70 and its 200 day simple moving average is $38.65. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Ally Financial Inc. will post 3 EPS for the current year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 annualized dividend and a yield of 3.04%. Ally Financial’s dividend payout ratio (DPR) is 48.00%.

Ally Financial 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.