Davis Investment Partners LLC Invests $243,000 in Ally Financial Inc. $ALLY

Key Points

• Davis Investment Partners LLC invested approximately $243,000 in Ally Financial Inc. by acquiring 6,050 shares during the 2nd quarter.
• Ally Financial recently received several analyst upgrades, including a price target increase from Citigroup and an upgrade from Wall Street Zen to a "hold" rating.
• The company announced a quarterly dividend of $0.30 per share, equating to an annualized dividend yield of 2.8%, with a payout ratio of 77.92%.

Davis Investment Partners LLC purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,050 shares of the financial services provider's stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in 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 worth $320,855,000 after acquiring an additional 134,113 shares in the last quarter. Wellington Management Group LLP bought a new position in Ally Financial during the first quarter valued at approximately $253,881,000. Jacobs Levy Equity Management Inc. lifted its position in Ally Financial by 10.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,658,877 shares of the financial services provider's stock valued at $169,909,000 after purchasing an additional 456,698 shares during the period. First Manhattan CO. LLC. lifted its position in Ally Financial by 0.8% during the first quarter. First Manhattan CO. LLC. now owns 4,258,760 shares of the financial services provider's stock valued at $155,317,000 after purchasing an additional 32,121 shares during the period. Finally, Millennium Management LLC lifted its position in Ally Financial by 234.7% during the first 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 during the period. Hedge funds and other institutional investors own 88.76% of the company's stock.

Ally Financial Price Performance

NYSE ALLY traded down $0.33 on Friday, hitting $44.25. The company had a trading volume of 1,131,211 shares, compared to its average volume of 3,762,860. The company has a market capitalization of $13.62 billion, a PE ratio of 28.73, a PEG ratio of 0.34 and a beta of 1.14. The company's fifty day moving average price is $39.80 and its 200-day moving average price is $36.82. 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 Inc. has a 12-month low of $29.52 and a 12-month high of $44.83.

Ally Financial (NYSE:ALLY - Get Free Report) last released 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 business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The company'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 firm earned $0.97 earnings per share. As a group, analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.20 annualized dividend and a yield of 2.7%. Ally Financial's dividend payout ratio (DPR) is 77.92%.

Analyst Ratings Changes

A number of analysts have commented on ALLY shares. Wells Fargo & Company raised shares of Ally Financial from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $37.00 to $45.00 in a report on Tuesday, September 2nd. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Wall Street Zen upgraded shares of Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and issued a $47.00 target price (up previously from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. Finally, BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.