Lazard Asset Management LLC Purchases 6,166 Shares of Ally Financial Inc. (NYSE:ALLY)

Lazard Asset Management LLC raised its position in Ally Financial Inc. (NYSE:ALLYGet Rating) by 102.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,178 shares of the financial services provider’s stock after buying an additional 6,166 shares during the quarter. Lazard Asset Management LLC’s holdings in Ally Financial were worth $407,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its position in shares of Ally Financial by 3.3% in the first quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock valued at $380,424,000 after purchasing an additional 281,795 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ally Financial by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,513,100 shares of the financial services provider’s stock valued at $283,226,000 after purchasing an additional 30,005 shares in the last quarter. Royal Bank of Canada grew its position in shares of Ally Financial by 5.6% in the first quarter. Royal Bank of Canada now owns 6,035,703 shares of the financial services provider’s stock valued at $262,433,000 after purchasing an additional 320,049 shares in the last quarter. LSV Asset Management grew its position in shares of Ally Financial by 3.0% in the first quarter. LSV Asset Management now owns 3,752,758 shares of the financial services provider’s stock valued at $163,170,000 after purchasing an additional 107,791 shares in the last quarter. Finally, Magnolia Group LLC grew its position in shares of Ally Financial by 56.6% in the second quarter. Magnolia Group LLC now owns 2,843,224 shares of the financial services provider’s stock valued at $95,276,000 after purchasing an additional 1,027,710 shares in the last quarter. 91.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALLY. Raymond James cut Ally Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 6th. Wells Fargo & Company cut Ally Financial from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $32.00 to $23.00 in a research report on Thursday, October 20th. The Goldman Sachs Group reduced their target price on Ally Financial from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 4th. Barclays reduced their target price on Ally Financial from $49.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Finally, Piper Sandler reduced their target price on Ally Financial from $34.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Ally Financial has a consensus rating of “Hold” and an average price target of $37.42.

Ally Financial Trading Down 0.8 %

NYSE ALLY opened at $26.01 on Friday. Ally Financial Inc. has a 1-year low of $24.83 and a 1-year high of $53.83. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.64. The stock has a 50-day moving average of $28.70 and a 200-day moving average of $33.46. The firm has a market cap of $7.77 billion, a PE ratio of 4.39, a price-to-earnings-growth ratio of 0.14 and a beta of 1.29.

Ally Financial (NYSE:ALLYGet Rating) last released its earnings results on Wednesday, October 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.61). Ally Financial had a net margin of 24.78% and a return on equity of 19.51%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the firm posted $2.16 EPS. The company’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Ally Financial Inc. will post 6.05 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend was Monday, October 31st. Ally Financial’s payout ratio is 20.24%.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, Director Marjorie Magner purchased 2,000 shares of the stock in a transaction on Tuesday, October 25th. The stock was acquired at an average price of $27.43 per share, with a total value of $54,860.00. Following the transaction, the director now directly owns 55,603 shares of the company’s stock, valued at approximately $1,525,190.29. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Ally Financial Profile

(Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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