Platinum Investment Management Ltd. boosted its position in shares of Ally Financial (NYSE:ALLY) by 206.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,142,900 shares of the financial services provider’s stock after acquiring an additional 2,117,500 shares during the period. Ally Financial comprises 2.4% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 17th biggest holding. Platinum Investment Management Ltd. owned about 0.72% of Ally Financial worth $91,646,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALLY. Tiedemann Wealth Management LLC lifted its position in shares of Ally Financial by 70.4% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 20,169 shares of the financial services provider’s stock worth $110,000 after buying an additional 8,332 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Ally Financial during the 4th quarter worth approximately $132,000. Meeder Asset Management Inc. purchased a new stake in shares of Ally Financial during the 4th quarter worth approximately $140,000. Global Trust Asset Management LLC purchased a new stake in shares of Ally Financial during the 4th quarter worth approximately $163,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Ally Financial during the 4th quarter worth approximately $178,000.
Several analysts have recently weighed in on ALLY shares. Jefferies Group restated a “buy” rating and set a $35.00 price objective on shares of Ally Financial in a research report on Thursday, January 11th. Oppenheimer started coverage on shares of Ally Financial in a research report on Monday, January 8th. They set a “buy” rating and a $38.00 price objective for the company. Zacks Investment Research upgraded shares of Ally Financial from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $35.00 price objective on shares of Ally Financial in a research report on Friday, December 22nd. Finally, Piper Jaffray restated a “buy” rating and set a $36.00 price objective on shares of Ally Financial in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $33.00.
ALLY stock opened at $26.62 on Friday. The firm has a market capitalization of $11,625.79, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.71 and a beta of 1.38. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 3.28. Ally Financial has a 12 month low of $18.11 and a 12 month high of $31.29.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.11. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.43 billion. Ally Financial had a net margin of 13.73% and a return on equity of 8.10%. Ally Financial’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. equities research analysts forecast that Ally Financial will post 2.96 earnings per share for the current fiscal year.
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About Ally Financial
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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