Asahi Life Asset Management CO. LTD. Boosts Holdings in Ally Financial Inc. (NYSE:ALLY)

Asahi Life Asset Management CO. LTD. lifted its position in Ally Financial Inc. (NYSE:ALLY) by 26.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,920 shares of the financial services provider’s stock after acquiring an additional 2,090 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Ally Financial were worth $353,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in Ally Financial by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 31,910 shares of the financial services provider’s stock valued at $1,135,000 after acquiring an additional 2,160 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Ally Financial by 8.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 68,032 shares of the financial services provider’s stock valued at $2,365,000 after buying an additional 5,197 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Ally Financial by 58.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock worth $1,796,000 after acquiring an additional 18,671 shares in the last quarter. Forsta AP Fonden raised its stake in shares of Ally Financial by 14.0% during the third quarter. Forsta AP Fonden now owns 49,600 shares of the financial services provider’s stock valued at $1,765,000 after acquiring an additional 6,100 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Ally Financial by 41.9% in the third 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 in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Trading Up 2.1 %

Shares of NYSE:ALLY opened at $35.13 on Tuesday. The firm has a market capitalization of $10.68 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.42 and a beta of 1.39. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The business’s 50-day moving average is $36.80 and its 200 day moving average is $38.97. Ally Financial Inc. has a 1 year low of $23.47 and a 1 year high of $45.46.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. On average, research analysts predict that Ally Financial Inc. will post 2.87 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial’s dividend payout ratio is currently 48.98%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALLY. TD Cowen lowered their target price on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Morgan Stanley decreased their price objective on Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 target price on shares of Ally Financial in a report on Monday, October 21st. Barclays cut their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. Finally, Wells Fargo & Company lowered their price target on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.38.

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.