Maverick Capital Ltd. Makes New Investment in Ally Financial Inc. (NYSE:ALLY)

Maverick Capital Ltd. purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,821 shares of the financial services provider’s stock, valued at approximately $1,024,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in Ally Financial by 245.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider’s stock valued at $24,687,000 after buying an additional 432,350 shares in the last quarter. OLD National Bancorp IN grew its holdings in Ally Financial by 3.8% during the second quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock valued at $34,933,000 after purchasing an additional 32,478 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Ally Financial by 15.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock valued at $14,988,000 after purchasing an additional 49,539 shares during the period. Banque Cantonale Vaudoise boosted its holdings in shares of Ally Financial by 309.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 99,315 shares of the financial services provider’s stock worth $4,031,000 after buying an additional 75,063 shares during the period. Finally, Fulton Bank N.A. acquired a new position in Ally Financial in the 2nd quarter valued at $689,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALLY shares. BTIG Research lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Morgan Stanley decreased their target price on Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Evercore ISI boosted their price objective on shares of Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Barclays reduced their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. upgraded Ally Financial from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $39.00 to $45.00 in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.76.

Ally Financial Stock Performance

ALLY stock opened at $34.97 on Friday. The stock has a market capitalization of $10.63 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 0.37 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The company has a 50 day moving average price of $39.67 and a 200 day moving average price of $39.53. Ally Financial Inc. has a fifty-two week low of $22.54 and a fifty-two week high of $45.46.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.33. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Analysts forecast that Ally Financial Inc. will post 3.15 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Thursday, August 1st. Ally Financial’s dividend payout ratio is 48.98%.

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.