Summit Trail Advisors LLC Purchases 2,263 Shares of Ally Financial Inc. (NYSE:ALLY)

Summit Trail Advisors LLC boosted its holdings in Ally Financial Inc. (NYSE:ALLY) by 25.0% in the first quarter, Holdings Channel reports. The institutional investor owned 11,306 shares of the financial services provider’s stock after buying an additional 2,263 shares during the period. Summit Trail Advisors LLC’s holdings in Ally Financial were worth $412,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ALLY. Proficio Capital Partners LLC acquired a new position in Ally Financial during the 4th quarter worth about $2,534,000. State of Michigan Retirement System raised its position in shares of Ally Financial by 0.8% during the fourth quarter. State of Michigan Retirement System now owns 71,664 shares of the financial services provider’s stock worth $2,581,000 after acquiring an additional 600 shares during the last quarter. Aigen Investment Management LP lifted its stake in shares of Ally Financial by 51.3% in the fourth quarter. Aigen Investment Management LP now owns 48,837 shares of the financial services provider’s stock worth $1,759,000 after acquiring an additional 16,569 shares during the period. Arizona State Retirement System boosted its holdings in Ally Financial by 1.6% in the fourth quarter. Arizona State Retirement System now owns 79,643 shares of the financial services provider’s stock valued at $2,868,000 after acquiring an additional 1,262 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Ally Financial in the fourth quarter valued at approximately $2,337,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Russell E. Hutchinson acquired 8,200 shares of the stock in a transaction on Tuesday, April 22nd. The shares were acquired at an average price of $30.81 per share, with a total value of $252,642.00. Following the completion of the transaction, the chief financial officer owned 236,421 shares in the company, valued at approximately $7,284,131.01. The trade was a 3.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephanie N. Richard sold 8,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total transaction of $257,120.00. Following the transaction, the insider directly owned 90,387 shares of the company’s stock, valued at $2,905,038.18. This represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Ally Financial Trading Up 1.7%

NYSE:ALLY opened at $40.88 on Thursday. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $45.46. The firm has a 50-day moving average price of $35.59 and a two-hundred day moving average price of $35.74. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 0.38 and a beta of 1.15.

Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.15. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $2.04 billion. Ally Financial had a return on equity of 9.53% and a net margin of 6.96%. During the same period in the prior year, the company posted $0.45 earnings per share. On average, equities analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Thursday, May 1st. Ally Financial’s dividend payout ratio is presently 88.24%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ALLY shares. Citigroup restated a “buy” rating and set a $59.00 price target (up previously from $55.00) on shares of Ally Financial in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Ally Financial from $43.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. BTIG Research lowered shares of Ally Financial from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a report on Tuesday, March 25th. Bank of America decreased their price target on Ally Financial from $42.00 to $38.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, The Goldman Sachs Group boosted their price objective on Ally Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.60.

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.