Commonwealth Equity Services LLC Purchases 8,484 Shares of Ally Financial Inc. (NYSE:ALLY)

Commonwealth Equity Services LLC increased its position in Ally Financial Inc. (NYSE:ALLY) by 12.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 74,871 shares of the financial services provider’s stock after acquiring an additional 8,484 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Ally Financial were worth $3,039,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALLY. Northwest Financial Advisors purchased a new stake in shares of Ally Financial during the 4th quarter valued at approximately $31,000. Rise Advisors LLC bought a new stake in shares of Ally Financial during the 1st quarter valued at $32,000. Quarry LP grew its holdings in Ally Financial by 165.7% during the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after buying an additional 598 shares in the last quarter. SYSTM Wealth Solutions LLC raised its holdings in shares of Ally Financial by 571.7% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 789 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in Ally Financial during the fourth quarter valued at approximately $50,000. 88.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALLY. BTIG Research assumed coverage on shares of Ally Financial in a report on Friday, June 7th. They issued a “buy” rating and a $51.00 price target on the stock. Bank of America upgraded Ally Financial from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. Compass Point boosted their target price on Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a report on Monday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.18.

Ally Financial Trading Down 2.2 %

Shares of NYSE:ALLY traded down $0.89 during trading on Friday, reaching $39.56. The company’s stock had a trading volume of 999,971 shares, compared to its average volume of 3,372,330. The stock has a market capitalization of $12.03 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.49 and a beta of 1.41. Ally Financial Inc. has a 12 month low of $22.54 and a 12 month high of $41.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.50. The firm’s 50 day simple moving average is $39.35 and its two-hundred day simple moving average is $37.61.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the company earned $0.82 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, research analysts predict that Ally Financial Inc. will post 3.02 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, April 30th. Ally Financial’s payout ratio is 48.98%.

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.