ClearAlpha Technologies LP Acquires New Position in Ally Financial Inc. (NYSE:ALLY)

ClearAlpha Technologies 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 and Exchange Commission (SEC). The institutional investor bought 7,531 shares of the financial services provider’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Ally Financial by 510.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after buying an additional 526 shares during the period. Venturi Wealth Management LLC increased its stake in Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 577 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Ally Financial in the second quarter valued at approximately $41,000. Allworth Financial LP boosted its stake in shares of Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 421 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in shares of Ally Financial in the second quarter worth approximately $52,000. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Stock Down 1.9 %

NYSE:ALLY opened at $39.21 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s 50-day moving average price is $36.00 and its 200-day moving average price is $38.61. The company has a market capitalization of $11.95 billion, a PE ratio of 15.68, a P/E/G ratio of 0.47 and a beta of 1.40. Ally Financial Inc. has a 1-year low of $29.05 and a 1-year high of $45.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 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 business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Ally Financial’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALLY. StockNews.com upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. TD Cowen dropped their target price 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. JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $46.00 to $40.00 in a research note on Monday, October 7th. Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, Barclays reduced their target price on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.80.

About Ally Financial

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.