Verition Fund Management LLC Raises Holdings in Ally Financial Inc. (NYSE:ALLY)

Verition Fund Management LLC increased its position in Ally Financial Inc. (NYSE:ALLY) by 71.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 25,944 shares of the financial services provider’s stock after purchasing an additional 10,809 shares during the period. Verition Fund Management LLC’s holdings in Ally Financial were worth $923,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Wedge Capital Management L L P NC lifted its stake in Ally Financial by 584.7% in the third quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock valued at $49,659,000 after buying an additional 1,191,529 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Ally Financial by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after purchasing an additional 987,489 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Ally Financial by 2,088.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 728,864 shares of the financial services provider’s stock worth $25,940,000 after purchasing an additional 695,555 shares during the last quarter. 140 Summer Partners LP acquired a new position in Ally Financial in the third quarter valued at $19,140,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Ally Financial by 182.2% in the second quarter. Los Angeles Capital Management LLC now owns 726,718 shares of the financial services provider’s stock valued at $28,829,000 after buying an additional 469,199 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $38.55 on Monday. The business has a 50 day moving average price of $36.33 and a two-hundred day moving average price of $38.59. Ally Financial Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $45.46. The firm has a market cap of $11.75 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.46 and a beta of 1.42. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last issued 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. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

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 $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio is currently 48.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALLY shares. Barclays dropped their price target on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. Keefe, Bruyette & Woods lowered their price objective on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Raymond James upgraded shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research note on Monday, October 21st. Morgan Stanley cut their price objective on Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Bank of America lowered their price target on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.80.

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.