SCS Capital Management LLC Invests $267,000 in Ally Financial Inc. $ALLY

Key Points

• SCS Capital Management LLC acquired a new stake of 7,334 shares in Ally Financial Inc., valued at approximately $267,000, during the first quarter of the year.
• Multiple institutional investors increased their stakes in Ally Financial during the fourth quarter, with notable raises from Captrust Financial Advisors and Cetera Investment Advisers.
• Ally Financial reported a quarterly EPS of $0.99, exceeding analyst expectations, and announced a quarterly dividend of $0.30, yielding 2.8% annually.

SCS Capital Management LLC bought a new stake in Ally Financial Inc. (NYSE:ALLY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,334 shares of the financial services provider's stock, valued at approximately $267,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WPG Advisers LLC purchased a new position in shares of Ally Financial in the 1st quarter valued at approximately $25,000. Copia Wealth Management purchased a new position in shares of Ally Financial in the 1st quarter valued at approximately $27,000. SVB Wealth LLC purchased a new position in shares of Ally Financial in the 1st quarter valued at approximately $27,000. Private Trust Co. NA grew its stake in shares of Ally Financial by 125.7% in the 1st quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 509 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Ally Financial by 59.6% in the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 377 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALLY has been the topic of a number of analyst reports. Citigroup lifted their price target on Ally Financial from $59.00 to $70.00 and gave the company a "buy" rating in a research note on Monday. Morgan Stanley restated an "overweight" rating and issued a $47.00 price target (up from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. Wells Fargo & Company upgraded Ally Financial from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $37.00 to $45.00 in a research note on Tuesday, September 2nd. Truist Financial lifted their price target on Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, BTIG Research upgraded Ally Financial from a "sell" rating to a "neutral" rating in a research report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ally Financial has an average rating of "Moderate Buy" and a consensus price target of $44.40.

Ally Financial Price Performance

ALLY traded up $0.79 during trading on Thursday, reaching $44.74. 834,105 shares of the stock were exchanged, compared to its average volume of 3,765,006. The business's 50 day moving average price is $39.72 and its two-hundred day moving average price is $36.75. 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 has a market capitalization of $13.77 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 0.34 and a beta of 1.14. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $44.71.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share 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 company had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial's payout ratio is 77.92%.

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.