HighTower Advisors LLC Purchases 10,444 Shares of Ally Financial Inc. $ALLY

Key Points

• HighTower Advisors LLC increased its stake in Ally Financial Inc. by 17.8%, acquiring an additional 10,444 shares, bringing its total holdings to 69,147 shares valued at approximately $2.52 million.
• Ally Financial recently reported earnings of $0.99 EPS for the last quarter, exceeding analyst expectations, with revenues rising 3.0% year-over-year to $2.08 billion.
• The company announced a quarterly dividend of $0.30 per share, reflecting an annual yield of 3.0%, with a payout ratio of 77.92%.

HighTower Advisors LLC lifted its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 17.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,147 shares of the financial services provider's stock after acquiring an additional 10,444 shares during the quarter. HighTower Advisors LLC's holdings in Ally Financial were worth $2,522,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC raised its holdings in shares of Ally Financial by 1.1% in the fourth quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider's stock valued at $946,000 after acquiring an additional 280 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Ally Financial by 4.9% in the fourth quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider's stock valued at $229,000 after acquiring an additional 297 shares in the last quarter. Signet Financial Management LLC raised its holdings in shares of Ally Financial by 5.6% in the first quarter. Signet Financial Management LLC now owns 6,724 shares of the financial services provider's stock valued at $245,000 after acquiring an additional 357 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of Ally Financial by 5.9% in the fourth quarter. Lido Advisors LLC now owns 6,455 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 359 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Ally Financial by 59.6% in the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 377 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Trading Up 5.6%

Ally Financial stock opened at $40.5840 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $43.86. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 0.30 and a beta of 1.16. The stock has a 50-day moving average price of $38.70 and a 200 day moving average price of $36.29.

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

Ally Financial Announces Dividend

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 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 3.0%. Ally Financial's payout ratio is 77.92%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Truist Financial lifted their target price on Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley reiterated an "overweight" rating and issued a $47.00 target price (up previously from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. BTIG Research upgraded Ally Financial from a "sell" rating to a "neutral" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their target price on Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Citigroup reiterated a "buy" rating and issued a $59.00 target price (up previously from $55.00) on shares of Ally Financial in a research note on Wednesday, July 2nd. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ally Financial has a consensus rating of "Hold" and an average 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.

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