Point72 Hong Kong Ltd Invests $199,000 in Ally Financial Inc. (NYSE:ALLY)

Point72 Hong Kong Ltd purchased a new stake in Ally Financial Inc. (NYSE:ALLY) during the 3rd quarter, HoldingsChannel reports. The fund purchased 5,596 shares of the financial services provider’s stock, valued at approximately $199,000.

Other large investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in Ally Financial by 68.8% during the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock worth $2,455,000 after buying an additional 28,114 shares during the last quarter. OLD National Bancorp IN grew its position in Ally Financial by 3.8% during the 2nd quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock worth $34,933,000 after acquiring an additional 32,478 shares during the last quarter. Fulton Bank N.A. acquired a new stake in Ally Financial during the 2nd quarter valued at $689,000. Wealth Enhancement Advisory Services LLC raised its position in Ally Financial by 58.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock valued at $1,796,000 after purchasing an additional 18,671 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in Ally Financial in the third quarter worth $1,338,000. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Trading Down 1.9 %

NYSE:ALLY opened at $39.21 on Tuesday. The firm has a market capitalization of $11.95 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 0.47 and a beta of 1.40. Ally Financial Inc. has a 1-year low of $29.05 and a 1-year high of $45.46. The business’s 50-day moving average price is $36.00 and its two-hundred day moving average price is $38.61. 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 announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. Ally Financial’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS. On average, equities analysts expect that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is 48.00%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ALLY. Citigroup raised their target price on Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. StockNews.com upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Wells Fargo & Company reduced their target price on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Thursday, September 26th. Morgan Stanley lowered their price target on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Ally Financial in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ally Financial currently has an average rating of “Hold” and a consensus price target of $40.80.

Ally Financial 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.