SCS Capital Management LLC Purchases New Holdings 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 purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,334 shares of the financial services provider's stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALLY. Captrust Financial Advisors increased its stake in Ally Financial by 49.7% during the fourth quarter. Captrust Financial Advisors now owns 8,910 shares of the financial services provider's stock valued at $321,000 after acquiring an additional 2,958 shares during the period. Cetera Investment Advisers increased its stake in Ally Financial by 192.7% during the fourth quarter. Cetera Investment Advisers now owns 53,364 shares of the financial services provider's stock valued at $1,922,000 after acquiring an additional 35,130 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ally Financial by 49.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,002 shares of the financial services provider's stock valued at $1,909,000 after acquiring an additional 17,450 shares during the period. OMERS ADMINISTRATION Corp boosted its holdings in Ally Financial by 20.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 11,348 shares of the financial services provider's stock valued at $409,000 after purchasing an additional 1,903 shares in the last quarter. Finally, Man Group plc grew its stake in shares of Ally Financial by 40.2% in the 4th quarter. Man Group plc now owns 276,812 shares of the financial services provider's stock valued at $9,968,000 after purchasing an additional 79,428 shares during the period. 88.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALLY. Citigroup reiterated a "buy" rating and issued a $59.00 price objective (up from $55.00) on shares of Ally Financial in a research note on Wednesday, July 2nd. Wells Fargo & Company upgraded Ally Financial from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $37.00 to $45.00 in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. upped their price objective on Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and issued a $47.00 price objective (up from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.67.

Ally Financial Stock Up 0.3%

NYSE ALLY opened at $42.22 on Friday. The firm has a market cap of $13.00 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 0.33 and a beta of 1.14. Ally Financial Inc. has a one year low of $29.52 and a one year high of $42.46. The stock's 50 day simple moving average is $39.54 and its 200 day simple moving average is $36.62. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly 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. 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%.Ally Financial's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. As a group, sell-side analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, August 1st. Ally Financial's dividend payout ratio (DPR) is presently 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.

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