Aristeia Capital L.L.C. Takes Position in Ally Financial Inc. $ALLY

Key Points

• Aristeia Capital L.L.C. purchased 7,723 shares of Ally Financial Inc. for approximately $282,000, marking a notable addition to their investment portfolio in the first quarter.
• Ally Financial's recent earnings report showed a net income of $0.99 EPS, surpassing analysts' estimates by $0.21, with a revenue of $2.08 billion for the quarter.
• The company's quarterly dividend of $0.30 per share highlights a yield of 2.9%, with a payout ratio of 77.92% confirmed in the latest announcement.

Aristeia Capital L.L.C. bought a new position in Ally Financial Inc. (NYSE:ALLY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,723 shares of the financial services provider's stock, valued at approximately $282,000.

Several other hedge funds also recently made changes to their positions in the company. Caxton Associates LLP acquired a new position in shares of Ally Financial in the 1st quarter worth approximately $927,000. Goldman Sachs Group Inc. grew its position in shares of Ally Financial by 35.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,379,207 shares of the financial services provider's stock worth $86,770,000 after acquiring an additional 616,247 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Ally Financial by 22.8% in the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider's stock worth $82,000 after acquiring an additional 415 shares in the last quarter. Millennium Management LLC grew its position in shares of Ally Financial by 234.7% in the 1st quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider's stock worth $136,838,000 after acquiring an additional 2,630,981 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in shares of Ally Financial by 0.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 40,363 shares of the financial services provider's stock worth $1,472,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Trading Up 0.3%

Shares of Ally Financial stock traded up $0.12 on Friday, reaching $42.22. 3,082,273 shares of the company were exchanged, compared to its average volume of 2,321,705. The stock has a fifty day moving average price of $39.54 and a 200-day moving average price of $36.62. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 0.33 and a beta of 1.13. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $42.46.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.21. The company 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%.Ally Financial's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 earnings per share. On average, analysts expect that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ALLY shares. Wells Fargo & Company upgraded Ally Financial from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $37.00 to $45.00 in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. boosted their price objective on Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Citigroup restated a "buy" rating and set a $59.00 price objective (up from $55.00) on shares of Ally Financial in a research note on Wednesday, July 2nd. Morgan Stanley restated an "overweight" rating and set a $47.00 price objective (up from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded Ally Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 23rd. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ally Financial has an average rating of "Moderate Buy" and an average target price of $43.67.

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.