State of New Jersey Common Pension Fund D Purchases 786 Shares of Ally Financial Inc. $ALLY

State of New Jersey Common Pension Fund D increased its holdings in Ally Financial Inc. (NYSE:ALLY) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,045 shares of the financial services provider’s stock after acquiring an additional 786 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Ally Financial were worth $3,196,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALLY. WPG Advisers LLC bought a new position in shares of Ally Financial during the first quarter valued at approximately $25,000. SVB Wealth LLC bought a new stake in Ally Financial during the 1st quarter valued at $27,000. Private Trust Co. NA increased its holdings in shares of Ally Financial by 125.7% in the 1st quarter. Private Trust Co. NA now owns 914 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 509 shares during the period. Bessemer Group Inc. raised its position in shares of Ally Financial by 59.6% in the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 377 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Ally Financial during the 1st quarter worth $74,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $41.33 on Tuesday. Ally Financial Inc. has a twelve month low of $29.52 and a twelve month high of $44.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31. The company has a market cap of $12.72 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 0.31 and a beta of 1.18. The company’s 50 day moving average is $40.71 and its 200 day moving average is $37.89.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.99 EPS for the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. The business had revenue of $2.06 billion for the quarter. On average, sell-side analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Ally Financial’s dividend payout ratio (DPR) is presently 72.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALLY shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ally Financial in a research note on Monday, July 14th. TD Cowen raised shares of Ally Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $43.00 to $50.00 in a research report on Monday, October 20th. Cowen raised shares of Ally Financial from a “hold” rating to a “buy” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods lowered their target price on shares of Ally Financial from $56.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company raised Ally Financial from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $37.00 to $45.00 in a research report on Tuesday, September 2nd. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $45.67.

Insider Activity

In other news, insider Kathleen L. Patterson sold 29,000 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total value of $1,184,940.00. Following the completion of the transaction, the insider owned 100,203 shares of the company’s stock, valued at $4,094,294.58. The trade was a 22.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by company insiders.

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.