O Shaughnessy Asset Management LLC increased its stake in shares of Ally Financial Inc (NYSE:ALLY) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,199,680 shares of the financial services provider’s stock after purchasing an additional 108,912 shares during the period. Ally Financial accounts for approximately 1.2% of O Shaughnessy Asset Management LLC’s investment portfolio, making the stock its 27th biggest position. O Shaughnessy Asset Management LLC’s holdings in Ally Financial were worth $57,963,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Fund Management S.A. acquired a new position in shares of Ally Financial during the 2nd quarter worth about $15,987,000. Bank of Nova Scotia acquired a new position in shares of Ally Financial during the 2nd quarter worth about $1,681,000. Toronto Dominion Bank raised its position in shares of Ally Financial by 43.2% during the 2nd quarter. Toronto Dominion Bank now owns 43,331 shares of the financial services provider’s stock worth $1,138,000 after purchasing an additional 13,063 shares during the last quarter. BlackRock Inc. raised its position in shares of Ally Financial by 8.8% during the 2nd quarter. BlackRock Inc. now owns 26,537,339 shares of the financial services provider’s stock worth $697,136,000 after purchasing an additional 2,148,484 shares during the last quarter. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Ally Financial during the 2nd quarter worth about $159,000. Hedge funds and other institutional investors own 98.73% of the company’s stock.
Shares of NYSE ALLY opened at $26.29 on Friday. Ally Financial Inc has a 12-month low of $23.69 and a 12-month high of $31.29. The stock has a market cap of $10.70 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 0.63 and a beta of 1.23. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.18 and a quick ratio of 1.18.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.60 annualized dividend and a dividend yield of 2.28%. Ally Financial’s dividend payout ratio (DPR) is 25.10%.
Several research analysts recently weighed in on ALLY shares. Zacks Investment Research downgraded shares of Ally Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Oppenheimer set a $35.00 price target on shares of Ally Financial and gave the stock a “buy” rating in a research report on Thursday, October 4th. Bank of America raised shares of Ally Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $33.00 to $35.00 in a research note on Monday, July 30th. Stephens reaffirmed a “hold” rating and set a $32.00 price objective on shares of Ally Financial in a research note on Friday, July 27th. Finally, Piper Jaffray Companies set a $34.00 price objective on shares of Ally Financial and gave the company a “buy” rating in a research note on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $32.72.
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Ally Financial Company Profile
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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