Vident Investment Advisory LLC bought a new stake in shares of Ally Financial Inc. (NYSE:ALLY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 117,994 shares of the financial services provider’s stock, valued at approximately $2,863,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in Ally Financial by 1.1% in the 2nd quarter. Franklin Resources Inc. now owns 19,424,589 shares of the financial services provider’s stock worth $405,975,000 after purchasing an additional 209,001 shares during the last quarter. JPMorgan Chase & Co. increased its position in Ally Financial by 7.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,536,031 shares of the financial services provider’s stock worth $442,825,000 after purchasing an additional 1,251,678 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ally Financial by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,683,736 shares of the financial services provider’s stock worth $210,668,000 after purchasing an additional 114,270 shares during the last quarter. King Street Capital Management L.P. increased its position in Ally Financial by 40.5% in the 3rd quarter. King Street Capital Management L.P. now owns 6,933,000 shares of the financial services provider’s stock worth $168,195,000 after purchasing an additional 2,000,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Ally Financial by 2.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,814,886 shares of the financial services provider’s stock worth $165,315,000 after purchasing an additional 176,020 shares during the last quarter.
Several research analysts have weighed in on the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $32.00 target price on shares of Ally Financial in a research report on Thursday. BMO Capital Markets reissued a “buy” rating and set a $26.00 price objective on shares of Ally Financial in a report on Friday, August 25th. Goldman Sachs Group assumed coverage on Ally Financial in a report on Monday, December 4th. They set a “buy” rating and a $32.00 price objective on the stock. BidaskClub raised Ally Financial from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 28th. Finally, Zacks Investment Research raised Ally Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Tuesday, September 26th. One 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 given a strong buy rating to the company’s stock. Ally Financial has a consensus rating of “Buy” and an average target price of $28.00.
Shares of Ally Financial Inc. (NYSE ALLY) traded up $0.28 during trading hours on Monday, reaching $28.65. The company had a trading volume of 3,115,900 shares, compared to its average volume of 4,293,699. Ally Financial Inc. has a 1 year low of $18.11 and a 1 year high of $28.83. The company has a market cap of $12,668.63, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 2.52 and a beta of 1.46. The company has a debt-to-equity ratio of 3.32, a quick ratio of 1.21 and a current ratio of 1.21.
Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.08. Ally Financial had a return on equity of 7.72% and a net margin of 14.75%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company earned $0.56 EPS. research analysts predict that Ally Financial Inc. will post 2.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.48 annualized dividend and a yield of 1.68%. Ally Financial’s payout ratio is 22.22%.
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Ally Financial Company Profile
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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