Philip James Wealth Mangement LLC Buys 231,472 Shares of Ally Financial Inc. (NYSE:ALLY)

Philip James Wealth Mangement LLC increased its position in Ally Financial Inc. (NYSE:ALLY) by 3,811.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,545 shares of the financial services provider’s stock after acquiring an additional 231,472 shares during the quarter. Ally Financial comprises about 1.0% of Philip James Wealth Mangement LLC’s holdings, making the stock its 21st biggest holding. Philip James Wealth Mangement LLC owned 0.08% of Ally Financial worth $8,454,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ALLY. Allspring Global Investments Holdings LLC increased 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 during the last quarter. Transcendent Capital Group LLC purchased a new stake in Ally Financial in the first quarter valued at approximately $28,000. Ashton Thomas Private Wealth LLC bought a new stake in Ally Financial during the second quarter valued at approximately $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 buying an additional 421 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Ally Financial in the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Performance

NYSE:ALLY traded down $0.35 on Friday, hitting $37.67. The stock had a trading volume of 185,216 shares, compared to its average volume of 3,486,588. Ally Financial Inc. has a 52-week low of $25.16 and a 52-week high of $45.46. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 0.41 and a beta of 1.40. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. The business’s 50-day simple moving average is $35.73 and its two-hundred day simple moving average is $38.86.

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

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.30 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.19%. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

Analyst Upgrades and Downgrades

ALLY has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $40.00 target price on shares of Ally Financial in a report on Monday, October 21st. BTIG Research lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $46.00 to $40.00 in a report on Monday, October 7th. Wells Fargo & Company dropped their price objective on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, September 26th. Finally, Barclays reduced their target price on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.38.

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.