Victory Capital Management Inc. boosted its stake in Ally Financial Inc (NYSE:ALLY) by 41.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,626,361 shares of the financial services provider’s stock after buying an additional 473,031 shares during the period. Victory Capital Management Inc.’s holdings in Ally Financial were worth $43,018,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new stake in Ally Financial during the second quarter worth about $149,000. NEXT Financial Group Inc purchased a new stake in Ally Financial during the third quarter worth about $153,000. Legacy Financial Advisors Inc. increased its stake in Ally Financial by 58.1% during the third quarter. Legacy Financial Advisors Inc. now owns 6,152 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 2,261 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in Ally Financial during the second quarter worth about $159,000. Finally, Dakota Wealth Management purchased a new stake in Ally Financial during the second quarter worth about $248,000. Hedge funds and other institutional investors own 98.73% of the company’s stock.
A number of analysts have issued reports on ALLY shares. Zacks Investment Research upgraded shares of Ally Financial from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, July 17th. TheStreet upgraded shares of Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, July 19th. Stephens reiterated a “hold” rating and set a $32.00 price target on shares of Ally Financial in a research note on Friday, July 27th. Bank of America upgraded shares of Ally Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $35.00 in a research note on Monday, July 30th. Finally, Oppenheimer set a $35.00 price target on shares of Ally Financial and gave the stock a “buy” rating in a research note on Thursday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Ally Financial has a consensus rating of “Buy” and a consensus target price of $32.72.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.11. Ally Financial had a return on equity of 10.25% and a net margin of 16.87%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, sell-side analysts predict that Ally Financial Inc will post 3.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Wednesday, October 31st. Ally Financial’s dividend payout ratio is presently 25.10%.
Ally Financial Profile
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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