True North Advisors LLC Purchases 7,833 Shares of Ally Financial Inc. $ALLY

Key Points

• True North Advisors LLC increased its holdings in Ally Financial Inc. by 61.8%, purchasing an additional 7,833 shares, which brought their total shares owned to 20,503 valued at approximately $799,000.
• Ally Financial reported a quarterly earnings per share (EPS) of $0.99, surpassing analysts' expectations by $0.21, and its revenue for the quarter was $2.08 billion, which was also above projections.
• The company announced a quarterly dividend of $0.30 per share, translating to an annualized yield of 2.9%, and maintains a dividend payout ratio of 77.92%.

True North Advisors LLC lifted its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 61.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,503 shares of the financial services provider's stock after purchasing an additional 7,833 shares during the quarter. True North Advisors LLC's holdings in Ally Financial were worth $799,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fulton Bank N.A. boosted its stake in shares of Ally Financial by 1.3% in the 2nd quarter. Fulton Bank N.A. now owns 19,888 shares of the financial services provider's stock valued at $775,000 after purchasing an additional 260 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Ally Financial by 0.7% in the first quarter. Integrated Wealth Concepts LLC now owns 40,363 shares of the financial services provider's stock valued at $1,472,000 after purchasing an additional 300 shares during 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 purchasing an additional 357 shares during the last quarter. Bessemer Group Inc. grew its stake 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 buying an additional 377 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Ally Financial by 22.8% in the first quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider's stock valued at $82,000 after buying an additional 415 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

Ally Financial Stock Performance

NYSE:ALLY opened at $40.85 on Friday. The stock has a market cap of $12.57 billion, a P/E ratio of 26.53, a PEG ratio of 0.33 and a beta of 1.14. 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 twelve month low of $29.52 and a twelve month high of $44.83. The business's 50-day moving average price is $40.07 and its two-hundred day moving average price is $37.09.

Ally Financial (NYSE:ALLY - Get Free Report) last announced 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 analysts' expectations of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS. As a group, equities analysts predict that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors 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 dividend payout ratio is 77.92%.

Analyst Ratings Changes

ALLY has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of Ally Financial from $42.00 to $45.00 and gave the stock an "in-line" rating in a report on Tuesday. Morgan Stanley reaffirmed an "overweight" rating and issued a $47.00 price target (up previously from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. Wells Fargo & Company upgraded Ally Financial from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $37.00 to $45.00 in a report on Tuesday, September 2nd. Finally, BTIG Research upgraded Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Ally Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.43.

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.

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