NewEdge Advisors LLC Buys 112,369 Shares of Ally Financial Inc. (NYSE:ALLY)

NewEdge Advisors LLC lifted its stake in Ally Financial Inc. (NYSE:ALLY) by 597.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,183 shares of the financial services provider’s stock after purchasing an additional 112,369 shares during the period. NewEdge Advisors LLC’s holdings in Ally Financial were worth $5,204,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Fifth Third Bancorp lifted its holdings in Ally Financial by 1.2% in the second quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock valued at $923,000 after buying an additional 278 shares during the period. Trust Co. of Toledo NA OH boosted its position in shares of Ally Financial by 1.7% in the 1st quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 287 shares during the last quarter. Signet Financial Management LLC grew its stake in shares of Ally Financial by 4.8% during the first quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 330 shares during the period. Blue Trust Inc. increased its holdings in Ally Financial by 10.2% in the second quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 400 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Ally Financial by 39.7% in the second quarter. Versant Capital Management Inc now owns 1,630 shares of the financial services provider’s stock valued at $65,000 after buying an additional 463 shares during the period. Institutional investors own 88.76% of the company’s stock.

Ally Financial Trading Down 2.5 %

Shares of NYSE:ALLY opened at $34.71 on Wednesday. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $45.46. The business has a 50 day moving average of $39.40 and a 200-day moving average of $39.51. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $10.55 billion, a PE ratio of 14.17, a P/E/G ratio of 0.37 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that Ally Financial Inc. will post 3.15 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.46%. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ALLY shares. Barclays decreased their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, September 12th. Morgan Stanley lowered their price objective on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada reduced their target price on Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. Evercore ISI increased their price target on Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Finally, Citigroup assumed coverage on Ally Financial in a report on Monday, June 24th. They set a “buy” rating and a $50.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.38.

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.