Franklin Resources Inc. Buys 345,210 Shares of Ally Financial Inc. (NYSE:ALLY)

Franklin Resources Inc. grew its position in Ally Financial Inc. (NYSE:ALLY) by 184.7% during the third quarter, HoldingsChannel reports. The firm owned 532,090 shares of the financial services provider’s stock after buying an additional 345,210 shares during the quarter. Franklin Resources Inc.’s holdings in Ally Financial were worth $19,044,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Ally Financial by 510.7% in 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 period. Venturi Wealth Management LLC boosted its holdings in Ally Financial by 153.9% during the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 577 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Ally Financial in the second quarter valued at about $41,000. Allworth Financial LP increased its stake in shares of Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 421 shares during the period. Finally, Quarry LP lifted its position in shares of Ally Financial by 311.4% during the 2nd quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,143 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALLY has been the subject of several research reports. Bank of America reduced their price objective on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. StockNews.com upgraded Ally Financial from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Keefe, Bruyette & Woods lifted their target price on shares of Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company lowered 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. Finally, Morgan Stanley increased their target price on Ally Financial from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.14.

Ally Financial Stock Up 0.1 %

Ally Financial stock opened at $34.63 on Friday. Ally Financial Inc. has a twelve month low of $31.77 and a twelve month high of $45.46. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. The company has a 50 day moving average of $36.71 and a 200-day moving average of $38.50. The stock has a market capitalization of $10.55 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 0.46 and a beta of 1.42.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share 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 company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. Ally Financial’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is currently 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.