HITE Hedge Asset Management LLC Grows Stock Holdings in Ally Financial Inc. $ALLY

Key Points

• HITE Hedge Asset Management LLC increased its holdings in Ally Financial Inc. by 42.4% during the first quarter, raising its position to 28,367 shares valued at approximately $1.04 million.
• Ally Financial's stock has a consensus rating of "Hold" from analysts, with a current average price target set at $42.80, despite varying ratings from different analysts.
• The company recently declared a quarterly dividend of $0.30 per share, equating to an annualized dividend yield of 3.1%, reflecting a payout ratio of approximately 77.92%.

HITE Hedge Asset Management LLC grew its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 42.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,367 shares of the financial services provider's stock after purchasing an additional 8,442 shares during the quarter. HITE Hedge Asset Management LLC's holdings in Ally Financial were worth $1,035,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALLY. Wellington Management Group LLP bought a new position in shares of Ally Financial during the 1st quarter worth approximately $253,881,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Ally Financial by 84.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider's stock worth $151,320,000 after acquiring an additional 1,918,965 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Ally Financial by 6,226.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,368,654 shares of the financial services provider's stock worth $49,285,000 after acquiring an additional 1,347,020 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Ally Financial by 41.4% during the 4th quarter. First Trust Advisors LP now owns 3,458,352 shares of the financial services provider's stock worth $124,535,000 after acquiring an additional 1,011,985 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Ally Financial by 28.0% during the 4th quarter. Northern Trust Corp now owns 3,941,459 shares of the financial services provider's stock worth $141,932,000 after acquiring an additional 863,052 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on ALLY shares. JPMorgan Chase & Co. boosted their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Truist Financial boosted their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a research note on Monday, July 14th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded shares of Ally Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 23rd. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $42.80.

Ally Financial Stock Performance

NYSE:ALLY traded up $2.1340 during trading hours on Friday, hitting $40.5840. 4,047,447 shares of the company were exchanged, compared to its average volume of 2,574,434. The stock has a market capitalization of $12.49 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 0.30 and a beta of 1.16. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $43.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The company's 50 day moving average price is $38.70 and its 200-day moving average price is $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 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.21. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. Ally Financial's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 EPS. As a group, research analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial's dividend payout ratio is 77.92%.

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.