Rakuten Securities Inc. Purchases 2,615 Shares of Ally Financial Inc. (NYSE:ALLY)

Rakuten Securities Inc. grew its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 65,375.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,619 shares of the financial services provider’s stock after buying an additional 2,615 shares during the period. Rakuten Securities Inc.’s holdings in Ally Financial were worth $93,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Boston Partners bought a new stake in Ally Financial in the first quarter worth $152,079,000. Wedge Capital Management L L P NC boosted its stake in Ally Financial by 584.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock worth $49,659,000 after purchasing an additional 1,191,529 shares in the last quarter. Delta Global Management LP increased its stake in Ally Financial by 3,262.3% during the 1st quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock valued at $42,051,000 after purchasing an additional 1,005,182 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Ally Financial by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock worth $384,715,000 after buying an additional 987,489 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Ally Financial by 2,088.2% in the third quarter. Assenagon Asset Management S.A. now owns 728,864 shares of the financial services provider’s stock worth $25,940,000 after buying an additional 695,555 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALLY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Ally Financial from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $46.00 to $40.00 in a report on Monday, October 7th. Wells Fargo & Company decreased their price target on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. Raymond James raised Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Morgan Stanley decreased their target price 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 dropped their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.38.

Ally Financial Trading Down 2.4 %

Shares of NYSE:ALLY opened at $36.64 on Wednesday. Ally Financial Inc. has a 12-month low of $25.23 and a 12-month high of $45.46. The company has a market cap of $11.16 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The stock has a 50 day moving average of $35.50 and a 200 day moving average of $38.82. 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 data 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 firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that Ally Financial Inc. will post 3 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.28%. Ally Financial’s payout ratio is 48.00%.

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.