OLD National Bancorp IN Grows Holdings in Ally Financial Inc. (NYSE:ALLY)

OLD National Bancorp IN boosted its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 792,897 shares of the financial services provider's stock after buying an additional 47,139 shares during the quarter. Ally Financial makes up approximately 0.7% of OLD National Bancorp IN's portfolio, making the stock its 21st biggest position. OLD National Bancorp IN owned 0.26% of Ally Financial worth $27,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALLY. Sessa Capital IM L.P. increased its position in Ally Financial by 426.5% in the 1st quarter. Sessa Capital IM L.P. now owns 9,493,106 shares of the financial services provider's stock valued at $241,979,000 after buying an additional 7,689,915 shares in the last quarter. Millennium Management LLC increased its position in Ally Financial by 195.1% in the 4th quarter. Millennium Management LLC now owns 6,058,768 shares of the financial services provider's stock valued at $148,137,000 after buying an additional 4,005,417 shares in the last quarter. AQR Capital Management LLC increased its position in Ally Financial by 233.9% in the 4th quarter. AQR Capital Management LLC now owns 4,118,432 shares of the financial services provider's stock valued at $100,160,000 after buying an additional 2,884,833 shares in the last quarter. Ancient Art L.P. bought a new stake in Ally Financial in the 3rd quarter valued at about $41,429,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Ally Financial by 18.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,343,564 shares of the financial services provider's stock valued at $212,677,000 after buying an additional 1,281,000 shares in the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Stock Performance

Shares of NYSE ALLY traded up $0.34 during midday trading on Friday, reaching $39.05. The company's stock had a trading volume of 7,236,103 shares, compared to its average volume of 3,131,262. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $41.56. The firm has a 50 day moving average price of $37.71 and a 200-day moving average price of $33.03. The stock has a market capitalization of $11.87 billion, a P/E ratio of 15.94, a PEG ratio of 0.57 and a beta of 1.40. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.90.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.12. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company's revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts predict that Ally Financial Inc. will post 2.9 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.30 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.20 annualized dividend and a yield of 3.07%. Ally Financial's payout ratio is 48.98%.

Analysts Set New Price Targets

A number of analysts recently commented on ALLY shares. Barclays boosted their target price on Ally Financial from $32.00 to $43.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 2nd. Wells Fargo & Company boosted their target price on Ally Financial from $29.00 to $33.00 and gave the company an "underweight" rating in a research report on Wednesday, April 10th. TheStreet raised Ally Financial from a "c+" rating to a "b-" rating in a report on Thursday, January 11th. BMO Capital Markets boosted their price objective on Ally Financial from $36.00 to $37.00 and gave the stock a "market perform" rating in a report on Friday. Finally, Morgan Stanley raised Ally Financial from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $37.00 to $47.00 in a report on Thursday, February 8th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Ally Financial has a consensus rating of "Hold" and an average target price of $38.47.

About Ally Financial

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.