Infrastructure Capital Advisors LLC Makes New $219,000 Investment in Ally Financial Inc. (NYSE:ALLY)

Infrastructure Capital Advisors LLC purchased a new position in shares of Ally Financial Inc. (NYSE:ALLY) in the second quarter, HoldingsChannel reports. The fund purchased 4,400 shares of the financial services provider’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALLY. Morgan Stanley boosted its stake in Ally Financial by 62.1% in the first quarter. Morgan Stanley now owns 16,467,130 shares of the financial services provider’s stock valued at $744,479,000 after buying an additional 6,310,150 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Ally Financial by 346.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,678,110 shares of the financial services provider’s stock worth $121,077,000 after acquiring an additional 2,078,340 shares in the last quarter. BlackRock Inc. grew its stake in shares of Ally Financial by 5.8% in the 2nd quarter. BlackRock Inc. now owns 32,165,112 shares of the financial services provider’s stock worth $1,603,109,000 after acquiring an additional 1,760,190 shares in the last quarter. Holocene Advisors LP lifted its holdings in Ally Financial by 35.5% during the first quarter. Holocene Advisors LP now owns 4,920,851 shares of the financial services provider’s stock valued at $222,472,000 after purchasing an additional 1,289,085 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Ally Financial by 129.3% in the first quarter. FMR LLC now owns 1,801,409 shares of the financial services provider’s stock worth $49,521,000 after buying an additional 1,015,634 shares in the last quarter. 92.48% of the stock is owned by institutional investors.

ALLY traded up $0.43 on Thursday, hitting $52.85. 83,379 shares of the stock traded hands, compared to its average volume of 2,616,628. Ally Financial Inc. has a 52 week low of $25.86 and a 52 week high of $56.61. The firm has a market capitalization of $19.05 billion, a PE ratio of 6.90 and a beta of 1.58. The business has a fifty day moving average price of $52.31 and a two-hundred day moving average price of $51.45. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.11.

Ally Financial (NYSE:ALLY) last posted its earnings results on Monday, July 19th. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.88. Ally Financial had a return on equity of 18.66% and a net margin of 37.19%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company earned $0.61 EPS. On average, equities research analysts forecast that Ally Financial Inc. will post 8.2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Monday, November 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, October 29th. Ally Financial’s dividend payout ratio is currently 33.00%.

A number of analysts recently commented on ALLY shares. BMO Capital Markets assumed coverage on Ally Financial in a research note on Tuesday, July 6th. They issued a “buy” rating and a $70.00 price target for the company. Morgan Stanley boosted their price target on Ally Financial from $64.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Ally Financial from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 21st. Barclays boosted their target price on Ally Financial from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 21st. Finally, Zacks Investment Research cut Ally Financial from a “buy” rating to a “hold” rating and set a $55.00 price objective for the company. in a research note on Monday, October 4th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $55.67.

In related news, General Counsel Scott A. Stengel sold 12,500 shares of the business’s stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $52.49, for a total value of $656,125.00. Following the sale, the general counsel now directly owns 96,517 shares in the company, valued at approximately $5,066,177.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason E. Schugel sold 2,500 shares of the business’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $51.81, for a total value of $129,525.00. Following the transaction, the insider now directly owns 141,022 shares of the company’s stock, valued at approximately $7,306,349.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,125 shares of company stock worth $1,797,333. Company insiders own 0.46% of the company’s stock.

About Ally Financial

Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

Read More: Capital Gains

Want to see what other hedge funds are holding ALLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ally Financial Inc. (NYSE:ALLY).

Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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