Cresset Asset Management LLC Takes $613,000 Position in Ally Financial Inc. $ALLY

Key Points

• Cresset Asset Management LLC has acquired 16,820 shares of Ally Financial Inc., valued at approximately $613,000, indicating institutional interest in the financial services provider.
• Several hedge funds increased their stakes in Ally Financial, resulting in institutional investors owning 88.76% of the stock.
• Analysts have issued new price targets for Ally Financial, with the average target now at $42.80 and a consensus rating of "Hold."

Cresset Asset Management LLC bought a new position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,820 shares of the financial services provider's stock, valued at approximately $613,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Ally Financial during the first quarter worth $1,998,000. Teacher Retirement System of Texas bought a new stake in shares of Ally Financial during the first quarter worth $1,462,000. Bessemer Group Inc. raised its position 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 worth $37,000 after acquiring an additional 377 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Ally Financial by 56.3% in the first quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock valued at $2,466,000 after purchasing an additional 24,372 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Ally Financial by 40.6% in the first quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock valued at $120,000 after purchasing an additional 952 shares during the last quarter. Institutional investors own 88.76% of the company's stock.

Ally Financial Trading Up 0.2%

Shares of Ally Financial stock traded up $0.06 during trading hours on Thursday, hitting $41.12. The company's stock had a trading volume of 1,124,529 shares, compared to its average volume of 3,858,137. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $43.22. The stock has a 50 day moving average of $38.96 and a 200 day moving average of $36.34. The company has a market capitalization of $12.66 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 0.32 and a beta of 1.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92.

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

Ally Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Wall Street Zen upgraded Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. BTIG Research upgraded Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Finally, Citigroup reiterated a "buy" rating and issued a $59.00 price objective (up previously from $55.00) on shares of Ally Financial in a report on Wednesday, July 2nd. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.80.

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.