Jacobs Levy Equity Management Inc. Boosts Position in Ally Financial Inc. $ALLY

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Ally Financial Inc. by 10.9%, acquiring an additional 456,698 shares and bringing its total holdings to approximately 4.66 million shares valued at around $169.9 million.
• Recent upgrades from analysts include a move from sell to neutral by BTIG Research and a price target increase by Truist Financial from $44.00 to $45.00, highlighting growing positive sentiment around the stock.
• Ally Financial reported a quarterly EPS of $0.99, exceeding expectations and marking a 3.0% year-over-year revenue growth to $2.08 billion, alongside the announcement of a quarterly dividend of $0.30.

Jacobs Levy Equity Management Inc. raised its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 10.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,658,877 shares of the financial services provider's stock after purchasing an additional 456,698 shares during the period. Ally Financial accounts for approximately 0.7% of Jacobs Levy Equity Management Inc.'s portfolio, making the stock its 25th biggest holding. Jacobs Levy Equity Management Inc. owned approximately 1.52% of Ally Financial worth $169,909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALLY. Algert Global LLC purchased a new position in Ally Financial in the 4th quarter valued at $396,000. Captrust Financial Advisors increased its stake in shares of Ally Financial by 49.7% in the 4th quarter. Captrust Financial Advisors now owns 8,910 shares of the financial services provider's stock worth $321,000 after acquiring an additional 2,958 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Ally Financial by 192.7% in the 4th quarter. Cetera Investment Advisers now owns 53,364 shares of the financial services provider's stock worth $1,922,000 after acquiring an additional 35,130 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Ally Financial by 1,239.6% in the 4th quarter. Cubist Systematic Strategies LLC now owns 148,152 shares of the financial services provider's stock worth $5,335,000 after acquiring an additional 161,152 shares during the last quarter. Finally, Crestline Management LP acquired a new stake in shares of Ally Financial in the 4th quarter worth $1,145,000. Hedge funds and other institutional investors own 88.76% of the company's stock.

Ally Financial Stock Performance

ALLY traded up $0.11 during trading on Tuesday, hitting $41.45. 2,460,401 shares of the stock were exchanged, compared to its average volume of 3,805,146. The firm has a market capitalization of $12.76 billion, a P/E ratio of 26.92, a PEG ratio of 0.32 and a beta of 1.13. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $42.46. The stock has a fifty day moving average price of $39.47 and a two-hundred day moving average price of $36.48. 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 (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, beating analysts' consensus estimates of $0.78 by $0.21. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. As a group, sell-side 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. Shareholders of record on Friday, August 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, August 1st. Ally Financial's payout ratio is presently 77.92%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ALLY shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $47.00 target price (up from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their price objective on Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Citigroup reissued a "buy" rating and set a $59.00 price objective (up from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Finally, BTIG Research raised Ally Financial from a "sell" rating to a "neutral" rating in a research 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.67.

Ally Financial 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.