140 Summer Partners LP Invests $19.14 Million in Ally Financial Inc. (NYSE:ALLY)

140 Summer Partners LP bought a new stake in Ally Financial Inc. (NYSE:ALLY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 537,800 shares of the financial services provider’s stock, valued at approximately $19,140,000. Ally Financial accounts for about 2.1% of 140 Summer Partners LP’s portfolio, making the stock its 15th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its stake in Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 526 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Ally Financial during the 2nd quarter valued at about $41,000. Allworth Financial LP boosted its position in Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after buying an additional 421 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Ally Financial during the second quarter worth about $52,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALLY. Evercore ISI cut their target price on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday, October 7th. Wells Fargo & Company reduced their price objective on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, September 26th. Bank of America decreased their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Finally, Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.69.

Ally Financial Stock Performance

Shares of ALLY opened at $39.49 on Thursday. The firm’s 50 day moving average price is $35.70 and its two-hundred day moving average price is $38.65. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a twelve month low of $26.50 and a twelve month high of $45.46. The firm has a market cap of $12.03 billion, a P/E ratio of 15.80, a PEG ratio of 0.46 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 EPS. On average, analysts forecast that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.04%. Ally Financial’s payout ratio is presently 48.00%.

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.