Fulton Bank N.A. acquired a new stake in Ally Financial Inc. (NYSE:ALLY – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 17,373 shares of the financial services provider’s stock, valued at approximately $689,000.
Several other hedge funds have also added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in Ally Financial by 39.7% during the second quarter. Versant Capital Management Inc now owns 1,630 shares of the financial services provider’s stock worth $65,000 after buying an additional 463 shares in the last quarter. DNB Asset Management AS boosted its stake in Ally Financial by 22.7% in the second quarter. DNB Asset Management AS now owns 46,707 shares of the financial services provider’s stock valued at $1,853,000 after buying an additional 8,653 shares in the last quarter. GAMMA Investing LLC grew its position in Ally Financial by 42.1% in the second quarter. GAMMA Investing LLC now owns 3,070 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 909 shares during the last quarter. Boston Partners acquired a new position in Ally Financial during the first quarter worth about $152,079,000. Finally, PGGM Investments bought a new position in shares of Ally Financial in the first quarter worth about $3,308,000. Institutional investors and hedge funds own 88.76% of the company’s stock.
Ally Financial Stock Up 0.4 %
NYSE:ALLY traded up $0.17 during trading hours on Wednesday, hitting $40.19. 843,470 shares of the company traded hands, compared to its average volume of 3,331,677. Ally Financial Inc. has a one year low of $22.54 and a one year high of $45.46. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a market cap of $12.22 billion, a PE ratio of 16.33, a PEG ratio of 0.42 and a beta of 1.41. The firm’s 50-day simple moving average is $40.72 and its 200-day simple moving average is $38.97.
Ally Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Thursday, August 1st. Ally Financial’s payout ratio is 48.98%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Ally Financial from $33.00 to $37.00 and gave the company an “underweight” rating in a research note on Thursday, July 18th. TD Cowen upped their price target on shares of Ally Financial from $42.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Keefe, Bruyette & Woods lifted their price objective on Ally Financial from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. BTIG Research began coverage on Ally Financial in a research note on Friday, June 7th. They issued a “buy” rating and a $51.00 price target on the stock. Finally, Compass Point boosted their target price on shares of Ally Financial from $28.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.78.
Check Out Our Latest Analysis on Ally Financial
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.
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