Empowered Funds LLC Acquires Shares of 116,600 Ally Financial Inc. (NYSE:ALLY)

Empowered Funds LLC bought a new position in shares of Ally Financial Inc. (NYSE:ALLY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 116,600 shares of the financial services provider’s stock, valued at approximately $4,150,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 526 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Ally Financial during the first quarter valued at approximately $28,000. Venturi Wealth Management LLC increased its holdings in shares of Ally Financial by 153.9% in the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Ally Financial in the 2nd quarter worth approximately $41,000. Finally, Hobbs Group Advisors LLC acquired a new position in Ally Financial during the 2nd quarter worth $52,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALLY. Keefe, Bruyette & Woods lowered their target price on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Morgan Stanley dropped 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. Wells Fargo & Company reduced their target price on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, September 26th. Barclays dropped their price target on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. Finally, Citigroup lifted their target price on shares of Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Ally Financial has an average rating of “Hold” and an average target price of $40.69.

Ally Financial Stock Performance

NYSE:ALLY opened at $36.22 on Monday. The business’s 50-day simple moving average is $35.14 and its 200-day simple moving average is $38.75. Ally Financial Inc. has a fifty-two week low of $26.50 and a fifty-two week high of $45.46. 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 stock has a market capitalization of $11.04 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating 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 firm 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. The business’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) 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.