USA Financial Formulas Invests $201,000 in Ally Financial Inc. (NYSE:ALLY)

USA Financial Formulas bought a new stake in Ally Financial Inc. (NYSE:ALLY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,645 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other hedge funds have also bought and sold shares of ALLY. Allspring Global Investments Holdings LLC grew its position in Ally Financial by 510.7% in the second 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. Transcendent Capital Group LLC bought a new position in shares of Ally Financial during the 1st quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in Ally Financial during the first quarter valued at about $32,000. Quarry LP boosted its holdings in Ally Financial by 165.7% during the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 598 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Ally Financial during the 2nd quarter worth approximately $41,000. 88.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Citigroup initiated coverage on Ally Financial in a research report on Monday, June 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Evercore ISI decreased their target price on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a report on Monday. JPMorgan Chase & Co. upgraded shares of Ally Financial from a “neutral” rating to an “overweight” rating and cut their price target for the company from $46.00 to $40.00 in a report on Monday. Finally, Royal Bank of Canada dropped their target price on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Ally Financial has a consensus rating of “Hold” and a consensus target price of $40.63.

Ally Financial Trading Down 0.6 %

Shares of NYSE:ALLY opened at $35.11 on Friday. Ally Financial Inc. has a 1 year low of $22.54 and a 1 year high of $45.46. The stock’s fifty day moving average price is $38.32 and its 200-day moving average price is $39.33. The company has a market cap of $10.67 billion, a P/E ratio of 14.33, a PEG ratio of 0.37 and a beta of 1.39. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. Sell-side analysts expect that Ally Financial Inc. will post 3.15 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial’s payout ratio is currently 48.98%.

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.