Wedge Capital Management L L P NC Raises Stake in Ally Financial Inc. (NYSE:ALLY)

Wedge Capital Management L L P NC boosted its stake in Ally Financial Inc. (NYSE:ALLY) by 584.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,395,308 shares of the financial services provider’s stock after acquiring an additional 1,191,529 shares during the period. Wedge Capital Management L L P NC owned 0.46% of Ally Financial worth $49,659,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALLY. Price T Rowe Associates Inc. MD lifted its holdings in Ally Financial by 245.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider’s stock valued at $24,687,000 after purchasing an additional 432,350 shares during the last quarter. OLD National Bancorp IN grew its stake in Ally Financial by 3.8% in the 2nd quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock valued at $34,933,000 after buying an additional 32,478 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Ally Financial by 15.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock worth $14,988,000 after acquiring an additional 49,539 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of Ally Financial by 309.5% in the first quarter. Banque Cantonale Vaudoise now owns 99,315 shares of the financial services provider’s stock worth $4,031,000 after acquiring an additional 75,063 shares during the period. Finally, Fulton Bank N.A. purchased a new position in shares of Ally Financial in the second quarter valued at $689,000. 88.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALLY shares. StockNews.com lowered Ally Financial from a “hold” rating to a “sell” rating in a report on Friday. Keefe, Bruyette & Woods decreased their price target on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Morgan Stanley dropped their price objective on Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $46.00 to $40.00 in a research note on Monday, October 7th. Finally, Evercore ISI dropped their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.63.

Ally Financial Trading Up 0.4 %

Shares of ALLY stock traded up $0.14 during mid-day trading on Monday, reaching $35.80. The stock had a trading volume of 1,148,644 shares, compared to its average volume of 3,445,651. The firm has a market capitalization of $10.88 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 0.42 and a beta of 1.39. The stock’s 50-day moving average price is $38.07 and its two-hundred day moving average price is $39.28. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. Ally Financial Inc. has a 52-week low of $22.54 and a 52-week high of $45.46.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. Ally Financial’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 EPS. Equities analysts expect that Ally Financial Inc. will post 2.87 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is currently 48.98%.

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.