PGGM Investments Acquires Shares of 81,487 Ally Financial Inc. (NYSE:ALLY)

PGGM Investments acquired a new stake in Ally Financial Inc. (NYSE:ALLY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 81,487 shares of the financial services provider’s stock, valued at approximately $3,308,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH raised its holdings in shares of Ally Financial by 1.7% during the 1st quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 287 shares during the period. WBI Investments LLC raised its holdings in Ally Financial by 2.2% in the 4th quarter. WBI Investments LLC now owns 14,635 shares of the financial services provider’s stock valued at $511,000 after buying an additional 316 shares during the period. Signet Financial Management LLC raised its holdings in Ally Financial by 4.8% in the 1st quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock valued at $295,000 after buying an additional 330 shares during the period. Xponance Inc. raised its holdings in Ally Financial by 1.4% in the 4th quarter. Xponance Inc. now owns 33,366 shares of the financial services provider’s stock valued at $1,165,000 after buying an additional 472 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Ally Financial by 1.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,253 shares of the financial services provider’s stock valued at $1,309,000 after buying an additional 484 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Performance

Shares of Ally Financial stock traded down $1.88 during trading hours on Friday, hitting $40.67. 4,032,328 shares of the company were exchanged, compared to its average volume of 3,048,093. Ally Financial Inc. has a 1 year low of $22.54 and a 1 year high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. The business has a 50-day moving average of $40.67 and a 200-day moving average of $38.81. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 0.42 and a beta of 1.41.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, analysts expect that Ally Financial Inc. will post 3.42 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, August 1st. Ally Financial’s dividend payout ratio is presently 48.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ALLY shares. Morgan Stanley lifted their target price on Ally Financial from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Royal Bank of Canada lifted their target price on Ally Financial from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Citigroup started coverage on Ally Financial in a research report on Monday, June 24th. They issued a “buy” rating and a $50.00 target price for the company. BMO Capital Markets lifted their target price on Ally Financial from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday, April 19th. Finally, StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.78.

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.