Sweeney & Michel LLC Invests $259,000 in Ally Financial Inc. $ALLY

Key Points

• Sweeney & Michel LLC purchased 6,407 shares of Ally Financial Inc., valued at approximately $259,000, marking a new position for the firm.
• Analysts have recently upgraded Ally Financial's stock ratings, with target prices increasing; Citigroup raised its target from $59.00 to $70.00, and Wells Fargo upped theirs from $37.00 to $45.00.
• The company reported Q2 earnings of $0.99 per share, exceeding expectations and showing a 3% year-over-year revenue growth, with total revenue of $2.08 billion.

Sweeney & Michel LLC acquired a new stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,407 shares of the financial services provider's stock, valued at approximately $259,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. WPG Advisers LLC purchased a new position in shares of Ally Financial during the 1st quarter valued at about $25,000. Copia Wealth Management bought a new stake in shares of Ally Financial in the 1st quarter worth approximately $27,000. SVB Wealth LLC purchased a new stake in shares of Ally Financial in the 1st quarter valued at $27,000. Private Trust Co. NA boosted its position in Ally Financial by 125.7% during the first quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock valued at $33,000 after buying an additional 509 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after buying an additional 377 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Down 1.6%

Shares of Ally Financial stock traded down $0.70 on Monday, reaching $43.51. The company's stock had a trading volume of 4,897,039 shares, compared to its average volume of 2,684,843. The company has a market capitalization of $13.39 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 0.34 and a beta of 1.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $44.83. The firm's fifty day simple moving average is $39.94 and its two-hundred day simple moving average is $36.97.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.21. The business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 EPS. Equities analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial's dividend payout ratio is presently 77.92%.

Wall Street Analyst Weigh In

ALLY has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $47.00 price target (up from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on shares of Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Wells Fargo & Company upgraded shares of Ally Financial from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $37.00 to $45.00 in a research report on Tuesday, September 2nd. BTIG Research raised shares of Ally Financial from a "sell" rating to a "neutral" rating in a research note on Monday, July 14th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.40.

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.