Amalgamated Bank Has $6.43 Million Position in Ally Financial Inc. (NYSE:ALLY)

Amalgamated Bank raised its stake in Ally Financial Inc. (NYSE:ALLY) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 184,093 shares of the financial services provider’s stock after buying an additional 11,412 shares during the period. Amalgamated Bank’s holdings in Ally Financial were worth $6,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALLY. Los Angeles Capital Management LLC bought a new position in shares of Ally Financial in the 4th quarter valued at $2,019,000. Natixis Advisors L.P. bought a new position in Ally Financial in the fourth quarter valued at about $955,000. First Trust Direct Indexing L.P. boosted its stake in shares of Ally Financial by 14.1% during the fourth quarter. First Trust Direct Indexing L.P. now owns 10,332 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 1,278 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Ally Financial by 17.1% during the fourth quarter. Victory Capital Management Inc. now owns 91,263 shares of the financial services provider’s stock worth $3,187,000 after purchasing an additional 13,352 shares during the last quarter. Finally, Magnolia Group LLC increased its stake in shares of Ally Financial by 3.7% in the fourth quarter. Magnolia Group LLC now owns 2,120,122 shares of the financial services provider’s stock valued at $74,035,000 after buying an additional 76,000 shares during the period. Institutional investors own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ALLY. TD Cowen lifted their target price on shares of Ally Financial from $42.00 to $43.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Bank of America upgraded shares of Ally Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. Wells Fargo & Company increased their price objective on Ally Financial from $29.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, April 10th. Morgan Stanley upgraded Ally Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $37.00 to $47.00 in a research report on Thursday, February 8th. Finally, BMO Capital Markets lifted their price objective on Ally Financial from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday, April 19th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned 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 $38.47.

Ally Financial Trading Up 1.5 %

ALLY opened at $39.37 on Monday. Ally Financial Inc. has a fifty-two week low of $22.54 and a fifty-two week high of $41.56. The firm has a market capitalization of $11.97 billion, a PE ratio of 16.07, a P/E/G ratio of 0.57 and a beta of 1.39. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50-day moving average is $38.30 and its 200 day moving average is $34.01.

Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.12. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. Ally Financial’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. As a group, research analysts predict that Ally Financial Inc. will post 2.99 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio is presently 48.98%.

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.