Smith Moore & CO. Takes Position in Ally Financial Inc. (ALLY)
Smith Moore & CO. acquired a new stake in Ally Financial Inc. (NYSE:ALLY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,000 shares of the financial services provider’s stock, valued at approximately $291,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Chicago Equity Partners LLC boosted its holdings in Ally Financial by 104.6% in the 2nd quarter. Chicago Equity Partners LLC now owns 213,495 shares of the financial services provider’s stock valued at $4,462,000 after purchasing an additional 109,145 shares during the period. Banced Corp boosted its holdings in Ally Financial by 5.3% in the 2nd quarter. Banced Corp now owns 22,661 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 1,139 shares during the period. Bank of Nova Scotia bought a new stake in Ally Financial in the 2nd quarter valued at about $2,262,000. State Treasurer State of Michigan boosted its holdings in Ally Financial by 163.0% in the 3rd quarter. State Treasurer State of Michigan now owns 3,762,933 shares of the financial services provider’s stock valued at $91,289,000 after purchasing an additional 2,331,967 shares during the period. Finally, Capstone Asset Management Co. bought a new stake in Ally Financial in the 2nd quarter valued at about $208,000.
Several equities analysts have recently commented on ALLY shares. BMO Capital Markets restated a “buy” rating and issued a $26.00 target price on shares of Ally Financial in a research report on Friday, August 25th. Piper Jaffray Companies restated a “buy” rating on shares of Ally Financial in a research report on Friday, September 1st. Credit Suisse Group restated a “buy” rating and issued a $28.00 target price on shares of Ally Financial in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Ally Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Tuesday, September 26th. Finally, Morgan Stanley boosted their target price on shares of Ally Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $26.93.
Shares of Ally Financial Inc. (NYSE:ALLY) traded down $0.66 during midday trading on Wednesday, reaching $25.80. 655,764 shares of the company’s stock traded hands, compared to its average volume of 3,541,091. The company has a debt-to-equity ratio of 3.32, a quick ratio of 1.21 and a current ratio of 1.21. Ally Financial Inc. has a 1 year low of $16.68 and a 1 year high of $26.93. The firm has a market cap of $11,872.69, a PE ratio of 11.93, a P/E/G ratio of 2.36 and a beta of 1.46.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Ally Financial had a net margin of 14.75% and a return on equity of 7.72%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company posted $0.56 EPS. analysts expect that Ally Financial Inc. will post 2.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, October 31st. Ally Financial’s dividend payout ratio (DPR) is currently 22.22%.
About Ally Financial
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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