Ally Financial Inc. (NYSE:ALLY) Shares Bought by Jennison Associates LLC

Jennison Associates LLC lifted its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,672,812 shares of the financial services provider’s stock after buying an additional 75,080 shares during the period. Jennison Associates LLC’s holdings in Ally Financial were worth $59,535,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ALLY. US Bancorp DE boosted its holdings in Ally Financial by 5.1% in the first quarter. US Bancorp DE now owns 16,297 shares of the financial services provider’s stock valued at $661,000 after purchasing an additional 793 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Ally Financial by 167.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,277 shares of the financial services provider’s stock valued at $904,000 after buying an additional 13,962 shares during the last quarter. UniSuper Management Pty Ltd grew its position in shares of Ally Financial by 85.7% during the first quarter. UniSuper Management Pty Ltd now owns 3,900 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,800 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Ally Financial by 15.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock worth $14,988,000 after buying an additional 49,539 shares during the last quarter. Finally, Shell Asset Management Co. raised its holdings in Ally Financial by 25.0% in the first quarter. Shell Asset Management Co. now owns 40,167 shares of the financial services provider’s stock valued at $1,630,000 after acquiring an additional 8,046 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALLY shares. JPMorgan Chase & Co. raised shares of Ally Financial from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $46.00 to $40.00 in a research report on Monday, October 7th. BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 target price on shares of Ally Financial in a research report on Monday, October 21st. Morgan Stanley dropped their price target on Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, Evercore ISI reduced their price objective on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research note on Monday, October 7th. One investment 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’s stock. According to data from MarketBeat.com, Ally Financial currently has a consensus rating of “Hold” and an average price target of $40.69.

Ally Financial Price Performance

NYSE ALLY opened at $35.53 on Thursday. The company has a 50-day moving average price of $35.12 and a two-hundred day moving average price of $38.70. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. 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 Inc. has a 52 week low of $26.50 and a 52 week 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business posted $0.83 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts forecast that Ally Financial Inc. will post 3 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio is presently 48.00%.

Ally Financial Company 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.