iA Global Asset Management Inc. Increases Position in Ally Financial Inc. (NYSE:ALLY)

iA Global Asset Management Inc. grew its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 19.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,505 shares of the financial services provider’s stock after purchasing an additional 1,549 shares during the period. iA Global Asset Management Inc.’s holdings in Ally Financial were worth $338,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. raised its stake in Ally Financial by 217.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock valued at $81,260,000 after buying an additional 1,563,008 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of Ally Financial by 584.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock worth $49,659,000 after purchasing an additional 1,191,529 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Ally Financial by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock worth $384,715,000 after purchasing an additional 987,489 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Ally Financial by 2,088.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 728,864 shares of the financial services provider’s stock valued at $25,940,000 after purchasing an additional 695,555 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Ally Financial during the 3rd quarter valued at about $21,571,000. 88.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ALLY shares. Raymond James upgraded shares of Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. JPMorgan Chase & Co. increased their target price on Ally Financial from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley decreased their price target on Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. TD Cowen dropped their price objective on Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Finally, BTIG Research lowered Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.73.

Ally Financial Stock Up 0.5 %

Shares of ALLY stock opened at $38.55 on Wednesday. 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 12 month low of $29.68 and a 12 month high of $45.46. The stock has a market cap of $11.75 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.46 and a beta of 1.42. The company has a 50 day simple moving average of $36.38 and a two-hundred day simple moving average of $38.59.

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. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. Ally Financial’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. On average, research analysts expect that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Announces Dividend

The business 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 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is currently 48.00%.

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.