Cidel Asset Management Inc. Acquires 376 Shares of Ally Financial Inc. $ALLY

Cidel Asset Management Inc. lifted its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,044 shares of the financial services provider’s stock after acquiring an additional 376 shares during the period. Cidel Asset Management Inc.’s holdings in Ally Financial were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALLY. Wellington Management Group LLP purchased a new position in Ally Financial during the first quarter worth about $253,881,000. Millennium Management LLC boosted its holdings in Ally Financial by 234.7% during the first quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider’s stock worth $136,838,000 after purchasing an additional 2,630,981 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Ally Financial by 6,675.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,243,773 shares of the financial services provider’s stock worth $48,445,000 after purchasing an additional 1,225,415 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Ally Financial by 173.2% during the first quarter. AQR Capital Management LLC now owns 1,377,717 shares of the financial services provider’s stock worth $49,984,000 after purchasing an additional 873,380 shares during the last quarter. Finally, Amundi boosted its holdings in Ally Financial by 53.9% during the first quarter. Amundi now owns 1,778,604 shares of the financial services provider’s stock worth $64,866,000 after purchasing an additional 622,601 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Ally Financial from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday. Keefe, Bruyette & Woods cut their price target on shares of Ally Financial from $56.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ally Financial in a research note on Tuesday, October 14th. BTIG Research upgraded shares of Ally Financial from a “sell” rating to a “neutral” rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company upgraded shares of Ally Financial from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $37.00 to $45.00 in a research note on Tuesday, September 2nd. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.67.

Ally Financial Stock Performance

Shares of ALLY stock opened at $40.49 on Tuesday. The stock has a market capitalization of $12.46 billion, a P/E ratio of 24.39, a PEG ratio of 0.30 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31. The firm’s 50 day moving average is $40.46 and its 200 day moving average is $37.57. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $44.83.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.99 EPS for the quarter. The company had revenue of $2.06 billion for the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. On average, sell-side analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, October 31st. Ally Financial’s dividend payout ratio is presently 72.29%.

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.