Ally Financial Inc. $ALLY Stake Lifted by SummitTX Capital L.P.

SummitTX Capital L.P. increased its position in shares of Ally Financial Inc. (NYSE:ALLYFree Report) by 48.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,294 shares of the financial services provider’s stock after purchasing an additional 14,698 shares during the period. SummitTX Capital L.P.’s holdings in Ally Financial were worth $1,777,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ally Financial during the 4th quarter valued at $29,000. Fideuram Asset Management Ireland dac acquired a new position in Ally Financial during the fourth quarter worth about $35,000. Safe Harbor Fiduciary LLC bought a new stake in Ally Financial in the fourth quarter worth about $37,000. Harvest Fund Management Co. Ltd bought a new stake in Ally Financial in the fourth quarter worth about $38,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in Ally Financial by 805.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 896 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 797 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the transaction, the insider owned 93,927 shares in the company, valued at approximately $3,958,083.78. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALLY. Barclays raised their price objective on shares of Ally Financial from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Morgan Stanley lifted their price target on shares of Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Wells Fargo & Company upped their price target on Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $58.00 price objective on shares of Ally Financial in a research report on Wednesday, July 22nd. Finally, Citigroup cut their target price on Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.86.

Check Out Our Latest Research Report on Ally Financial

Ally Financial Trading Down 2.5%

Ally Financial stock opened at $42.99 on Thursday. The company has a 50 day moving average price of $44.40 and a 200 day moving average price of $42.53. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 0.27 and a beta of 1.09. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLYGet Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.01). The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $0.99 EPS. Research analysts forecast that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is presently 28.30%.

Ally Financial Profile

(Free Report)

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.

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

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