Concentric Capital Strategies LP Takes Position in Ally Financial Inc. (NYSE:ALLY)

Concentric Capital Strategies LP bought a new position in shares of Ally Financial Inc. (NYSE:ALLY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,505 shares of the financial services provider’s stock, valued at approximately $1,442,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ally Financial in the 3rd quarter worth $124,000. Point72 Hong Kong Ltd bought a new stake in Ally Financial in the third quarter worth about $199,000. Maverick Capital Ltd. lifted its holdings in Ally Financial by 1.2% in the 3rd quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider’s stock valued at $930,000 after acquiring an additional 299 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of Ally Financial by 71.4% during the 3rd quarter. Verition Fund Management LLC now owns 25,944 shares of the financial services provider’s stock valued at $923,000 after purchasing an additional 10,809 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Ally Financial by 29.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 53,079 shares of the financial services provider’s stock worth $1,889,000 after purchasing an additional 12,229 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALLY. Wells Fargo & Company reduced their target price on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, September 26th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price objective on shares of Ally Financial in a research note on Monday, October 21st. Bank of America cut their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods decreased their price target on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $46.00 to $40.00 in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.80.

Ally Financial Stock Down 1.9 %

Ally Financial stock opened at $39.21 on Tuesday. Ally Financial Inc. has a twelve month low of $29.05 and a twelve month high of $45.46. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $11.95 billion, a PE ratio of 15.68, a P/E/G ratio of 0.47 and a beta of 1.40. The firm’s 50 day moving average price is $36.00 and its two-hundred day moving average price is $38.61.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. Ally Financial’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. On average, research analysts predict that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.30 per share. The ex-dividend date was Friday, November 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.06%. Ally Financial’s dividend payout ratio is 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.