Texas Permanent School Fund Corp Raises Stock Position in Ally Financial Inc. (NYSE:ALLY)

Texas Permanent School Fund Corp grew its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,585 shares of the financial services provider’s stock after purchasing an additional 3,107 shares during the period. Texas Permanent School Fund Corp’s holdings in Ally Financial were worth $9,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Rise Advisors LLC purchased a new stake in shares of Ally Financial during the first quarter worth approximately $32,000. Northwest Financial Advisors purchased a new stake in shares of Ally Financial during the fourth quarter worth approximately $31,000. SYSTM Wealth Solutions LLC increased its stake in shares of Ally Financial by 571.7% during the first quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock worth $38,000 after buying an additional 789 shares during the period. Quarry LP increased its stake in shares of Ally Financial by 165.7% during the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock worth $33,000 after buying an additional 598 shares during the period. Finally, Friedenthal Financial purchased a new position in Ally Financial in the fourth quarter valued at approximately $50,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on ALLY shares. BTIG Research started coverage on shares of Ally Financial in a research note on Friday, June 7th. They issued a “buy” rating and a $51.00 price target on the stock. TD Cowen increased their price target on shares of Ally Financial from $42.00 to $43.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Wells Fargo & Company increased their price target on shares of Ally Financial from $29.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. Bank of America upgraded shares of Ally Financial from a “neutral” rating to a “buy” rating and increased their price target for the company from $42.00 to $46.00 in a research note on Tuesday, April 9th. Finally, Compass Point increased their price objective on Ally Financial from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ally Financial has a consensus rating of “Hold” and an average target price of $41.89.

Ally Financial Price Performance

Ally Financial stock traded up $1.05 during midday trading on Thursday, reaching $42.30. The company’s stock had a trading volume of 3,069,326 shares, compared to its average volume of 3,388,237. Ally Financial Inc. has a fifty-two week low of $22.54 and a fifty-two week high of $42.64. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s 50 day simple moving average is $39.50 and its 200 day simple moving average is $37.81. The firm has a market capitalization of $12.86 billion, a PE ratio of 17.27, a P/E/G ratio of 0.49 and a beta of 1.41.

Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the company earned $0.82 earnings per share. Ally Financial’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Tuesday, April 30th. Ally Financial’s dividend payout ratio (DPR) is currently 48.98%.

About Ally Financial

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.