Bridgewater Associates LP Purchases 102,736 Shares of Ally Financial Inc. (NYSE:ALLY)

Bridgewater Associates LP increased its position in Ally Financial Inc. (NYSE:ALLY) by 312.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 135,649 shares of the financial services provider’s stock after acquiring an additional 102,736 shares during the period. Bridgewater Associates LP’s holdings in Ally Financial were worth $4,828,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ALLY. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 526 shares in the last quarter. Venturi Wealth Management LLC raised its position 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 buying an additional 577 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Ally Financial during the 2nd quarter valued at about $41,000. Allworth Financial LP boosted its holdings in shares of Ally Financial by 41.9% during the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 421 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Ally Financial in the second quarter worth approximately $52,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALLY. Wells Fargo & Company lowered their price objective on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Thursday, September 26th. Barclays lowered their target price on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, September 12th. Evercore ISI cut their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday, October 7th. TD Cowen reduced their price target on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Finally, Morgan Stanley cut their target price on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.69.

Ally Financial Trading Up 1.3 %

Shares of ALLY stock opened at $40.00 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a fifty day simple moving average of $35.90 and a two-hundred day simple moving average of $38.65. The firm has a market capitalization of $12.19 billion, a PE ratio of 16.00, a PEG ratio of 0.47 and a beta of 1.40. Ally Financial Inc. has a 52-week low of $28.99 and a 52-week high of $45.46.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $0.83 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, analysts predict that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

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.