Ally Financial Inc (ALLY) is Cyrus Capital Partners L.P.’s 2nd Largest Position
Cyrus Capital Partners L.P. lessened its stake in Ally Financial Inc (NYSE:ALLY) by 26.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,667,270 shares of the financial services provider’s stock after selling 2,045,657 shares during the quarter. Ally Financial makes up about 17.0% of Cyrus Capital Partners L.P.’s holdings, making the stock its 2nd biggest holding. Cyrus Capital Partners L.P.’s holdings in Ally Financial were worth $165,258,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tiedemann Wealth Management LLC boosted its holdings in Ally Financial by 70.4% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 20,169 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 8,332 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Ally Financial in the 4th quarter worth approximately $132,000. Meeder Asset Management Inc. purchased a new position in Ally Financial in the 4th quarter worth approximately $140,000. Global Trust Asset Management LLC purchased a new position in Ally Financial in the 4th quarter worth approximately $163,000. Finally, Acadian Asset Management LLC purchased a new position in Ally Financial in the 4th quarter worth approximately $178,000.
A number of equities analysts have weighed in on the company. Sandler O’Neill restated a “hold” rating and issued a $30.00 price target on shares of Ally Financial in a report on Friday, February 23rd. ValuEngine upgraded Ally Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $36.00 price target on shares of Ally Financial in a report on Tuesday, January 30th. Credit Suisse Group increased their target price on Ally Financial from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Morgan Stanley increased their target price on Ally Financial from $28.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Ally Financial currently has a consensus rating of “Buy” and an average target price of $32.41.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.11. Ally Financial had a return on equity of 8.10% and a net margin of 13.73%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. analysts predict that Ally Financial Inc will post 3.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, January 31st. This is a boost from Ally Financial’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.87%. Ally Financial’s dividend payout ratio (DPR) is 25.37%.
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About Ally Financial
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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