BTC Capital Management Inc. Increases Position in Ally Financial Inc. $ALLY

Key Points

• BTC Capital Management Inc. increased its ownership of Ally Financial Inc. by 53.3% in Q2, now holding 19,583 shares valued at approximately $763,000.
• Ally Financial reported quarterly earnings of $0.99 per share, surpassing analysts' expectations of $0.78, while revenue rose 3.0% year-over-year to $2.08 billion.
• The company recently announced a quarterly dividend of $0.30 per share, translating to an annual yield of 2.7%.

BTC Capital Management Inc. lifted its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 53.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,583 shares of the financial services provider's stock after buying an additional 6,812 shares during the period. BTC Capital Management Inc.'s holdings in Ally Financial were worth $763,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Ally Financial by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,797,505 shares of the financial services provider's stock valued at $320,855,000 after buying an additional 134,113 shares during the period. Wellington Management Group LLP purchased a new stake in Ally Financial during the 1st quarter worth about $253,881,000. Jacobs Levy Equity Management Inc. grew its stake in Ally Financial by 10.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,658,877 shares of the financial services provider's stock worth $169,909,000 after buying an additional 456,698 shares during the last quarter. First Manhattan CO. LLC. lifted its position in Ally Financial by 0.8% during the 1st quarter. First Manhattan CO. LLC. now owns 4,258,760 shares of the financial services provider's stock worth $155,317,000 after acquiring an additional 32,121 shares during the period. Finally, Millennium Management LLC increased its stake in 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 valued at $136,838,000 after purchasing an additional 2,630,981 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Price Performance

Shares of NYSE:ALLY traded down $0.70 on Monday, hitting $43.51. The company had a trading volume of 4,897,039 shares, compared to its average volume of 2,684,843. The company has a market cap of $13.39 billion, a PE ratio of 28.25, a PEG ratio of 0.34 and a beta of 1.13. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week 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 1.30. The business has a 50 day moving average of $39.94 and a 200 day moving average of $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 EPS for the quarter, beating the consensus estimate of $0.78 by $0.21. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The firm's revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. As a group, equities analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley reiterated an "overweight" rating and issued a $47.00 price target (up previously from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. Citigroup boosted their price target on shares of Ally Financial from $59.00 to $70.00 and gave the company a "buy" rating in a report on Monday, September 15th. JPMorgan Chase & Co. increased their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Truist Financial upped their target price on shares of Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, BTIG Research raised shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $44.40.

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.