New Century Financial Group LLC Acquires New Stake in Ally Financial Inc. (NYSE:ALLY)

New Century Financial Group LLC bought a new position in Ally Financial Inc. (NYSE:ALLY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,471 shares of the financial services provider’s stock, valued at approximately $942,000.

Several other hedge funds have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in Ally Financial by 17.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 27,613 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 4,021 shares during the last quarter. First Financial Corp IN bought a new stake in shares of Ally Financial during the first quarter valued at approximately $81,000. Signet Financial Management LLC increased its position in shares of Ally Financial by 4.8% during the first quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 330 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ally Financial by 1.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,253 shares of the financial services provider’s stock worth $1,309,000 after acquiring an additional 484 shares during the last quarter. Finally, AMF Tjanstepension AB bought a new position in Ally Financial in the 1st quarter valued at approximately $12,048,000. 88.76% of the stock is owned by institutional investors.

Ally Financial Trading Down 2.3 %

Shares of NYSE:ALLY opened at $35.01 on Friday. The stock has a 50 day moving average of $37.62 and a 200 day moving average of $39.12. The company has a market cap of $10.64 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.42 and a beta of 1.39. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The company’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 earnings per share. As a group, equities research analysts expect that Ally Financial Inc. will post 2.87 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. Ally Financial’s dividend payout ratio is presently 48.98%.

Analyst Ratings Changes

A number of analysts have commented on the company. BTIG Research lowered Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. Citigroup assumed coverage on Ally Financial in a report on Monday, June 24th. They issued a “buy” rating and a $50.00 price objective for the company. StockNews.com upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. upgraded shares of Ally Financial from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $46.00 to $40.00 in a research note on Monday, October 7th. Finally, Barclays lowered their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.63.

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.