Kingsview Wealth Management LLC Purchases New Holdings in Ally Financial Inc. (NYSE:ALLY)

Kingsview Wealth Management LLC purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,371 shares of the financial services provider’s stock, valued at approximately $369,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Ally Financial by 510.7% in the 2nd 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 grew its stake in Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Ally Financial in the 2nd quarter worth about $41,000. Allworth Financial LP grew its stake in Ally Financial by 41.9% in the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 421 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Ally Financial in the 2nd quarter worth about $52,000. 88.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on ALLY. Bank of America dropped their target price on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Wells Fargo & Company lowered their price target on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, September 26th. TD Cowen lowered their price target on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. BTIG Research cut shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.69.

Ally Financial Trading Up 0.2 %

NYSE ALLY opened at $39.49 on Friday. The company has a fifty day simple moving average of $35.79 and a two-hundred day simple moving average of $38.65. The stock has a market cap of $12.03 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.46 and a beta of 1.40. Ally Financial Inc. has a 12-month low of $26.50 and a 12-month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36.

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

Ally Financial Dividend Announcement

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

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.