Emerald Investment Advisers LLC Purchases New Position in Ally Financial Inc. $ALLY

Key Points

• Emerald Investment Advisers purchased 58,721 shares of Ally Financial, valued at approximately $2.7 million, while other institutional investors also initiated or increased positions. Institutions collectively own 88.76% of the company.
• Ally Financial reported quarterly revenue of $2.28 billion, up 9.8% year over year, though earnings per share of $1.21 narrowly missed analysts’ $1.22 estimate. The company maintains a quarterly dividend of $0.30, equivalent to a 2.8% yield.
• Analyst sentiment remains positive, with 14 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $53.64, above the reported share price of $42.96.

Emerald Investment Advisers LLC purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 58,721 shares of the financial services provider's stock, valued at approximately $2,698,000.

Several other hedge funds have also recently made changes to their positions in the business. Tocqueville Asset Management L.P. purchased a new position in shares of Ally Financial during the 2nd quarter worth approximately $17,613,000. State of Wyoming purchased a new position in Ally Financial during the 2nd quarter valued at about $3,195,000. Intech Investment Management LLC purchased a new position in Ally Financial during the 4th quarter valued at about $3,926,000. Geode Capital Management LLC boosted its stake in Ally Financial by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock worth $243,795,000 after acquiring an additional 241,000 shares in the last quarter. Finally, Qsemble Capital Management LP boosted its stake in Ally Financial by 136.0% during the fourth quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider's stock worth $7,235,000 after acquiring an additional 92,043 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the transaction, the insider directly owned 88,927 shares of the company's stock, valued at $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

Ally Financial Price Performance

Shares of ALLY opened at $42.96 on Friday. The company has a market capitalization of $13.07 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $44.82 and a 200 day moving average of $42.63. Ally Financial Inc. has a twelve month low of $35.92 and a twelve month high of $47.29.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the company posted $0.99 earnings per share. The business's revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Ally Financial Inc. will post 5.19 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 14th. Stockholders of record on Friday, July 31st were paid a $0.30 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. Ally Financial's payout ratio is currently 28.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALLY shares. Royal Bank Of Canada raised their target price on shares of Ally Financial from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, July 10th. Bank of America upped their price target on Ally Financial from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Wall Street Zen lowered Ally Financial from a "buy" rating to a "hold" rating in a research report on Monday, June 8th. Citigroup dropped their target price on Ally Financial from $70.00 to $58.00 and set a "buy" rating on the stock in a report on Tuesday, June 23rd. Finally, Wells Fargo & Company increased their target price on Ally Financial from $52.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.64.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.

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