HITE Hedge Asset Management LLC Invests $1.72 Million in Ally Financial Inc. (NYSE:ALLY)

HITE Hedge Asset Management LLC purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 48,328 shares of the financial services provider’s stock, valued at approximately $1,720,000.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Ally Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after acquiring an additional 987,489 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Ally Financial by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,697,251 shares of the financial services provider’s stock valued at $146,670,000 after buying an additional 31,491 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Ally Financial by 19.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,106,589 shares of the financial services provider’s stock worth $74,974,000 after buying an additional 344,543 shares during the period. Jennison Associates LLC raised its holdings in shares of Ally Financial by 4.7% in the third quarter. Jennison Associates LLC now owns 1,672,812 shares of the financial services provider’s stock valued at $59,535,000 after acquiring an additional 75,080 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Ally Financial by 7.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,615,663 shares of the financial services provider’s stock valued at $57,501,000 after purchasing an additional 109,677 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Stock Performance

Shares of ALLY stock opened at $39.21 on Tuesday. The firm’s 50 day moving average is $36.00 and its 200 day moving average is $38.61. The stock has a market capitalization of $11.95 billion, a P/E ratio of 15.68, a PEG ratio of 0.47 and a beta of 1.40. Ally Financial Inc. has a 12 month low of $29.05 and a 12 month high of $45.46. 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 earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALLY. Evercore ISI dropped their target price on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. Morgan Stanley dropped their price objective on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Barclays cut their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, September 12th. Citigroup raised their price target on shares of Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Ally Financial in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.80.

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.