Ally Financial Inc. $ALLY Holdings Lifted by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Ally Financial by 23.8%, now owning approximately 650,000 shares worth about $23.7 million.
• Several analysts have raised their target prices for Ally Financial shares, with most suggesting a buy or overweight rating, indicating positive sentiment towards the stock.
• Ally Financial reported a net margin of 7.64% and earnings per share of $0.99 for the last quarter, exceeding analysts' expectations.

Adage Capital Partners GP L.L.C. lifted its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 23.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 650,000 shares of the financial services provider's stock after purchasing an additional 125,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.21% of Ally Financial worth $23,706,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Tidal Investments LLC grew its holdings in shares of Ally Financial by 1.1% during the 4th quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider's stock worth $946,000 after purchasing an additional 280 shares during the period. EP Wealth Advisors LLC grew its holdings in shares of Ally Financial by 4.9% during the 4th quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider's stock worth $229,000 after purchasing an additional 297 shares during the period. Signet Financial Management LLC grew its holdings in shares of Ally Financial by 5.6% during the 1st quarter. Signet Financial Management LLC now owns 6,724 shares of the financial services provider's stock worth $245,000 after purchasing an additional 357 shares during the period. Bessemer Group Inc. lifted its position in Ally Financial by 59.6% during 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, Fifth Third Bancorp lifted its position in Ally Financial by 22.3% during the 1st quarter. Fifth Third Bancorp now owns 2,519 shares of the financial services provider's stock worth $92,000 after acquiring an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Analyst Upgrades and Downgrades

ALLY has been the topic of several recent research reports. Morgan Stanley reissued an "overweight" rating and set a $47.00 price target (up from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. JPMorgan Chase & Co. boosted their price target on Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Royal Bank Of Canada reissued an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Truist Financial boosted their price target on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, BTIG Research raised Ally Financial from a "sell" rating to a "neutral" rating in a research report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $43.67.

Ally Financial Stock Performance

Shares of ALLY stock traded down $0.52 on Wednesday, hitting $40.89. 492,093 shares of the stock traded hands, compared to its average volume of 3,786,108. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $12.59 billion, a PE ratio of 26.55, a PEG ratio of 0.32 and a beta of 1.13. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $42.46. The company's fifty day moving average is $39.49 and its 200 day moving average is $36.51.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly 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 analyst estimates of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The business's revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. On average, equities research analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. Ally Financial's dividend payout ratio is presently 77.92%.

About Ally Financial

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.