Denali Advisors LLC increased its position in Ally Financial Inc (NYSE:ALLY) by 122.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,400 shares of the financial services provider’s stock after acquiring an additional 17,300 shares during the period. Denali Advisors LLC’s holdings in Ally Financial were worth $1,041,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of ALLY. BlackRock Inc. grew its holdings in Ally Financial by 1.3% in the second quarter. BlackRock Inc. now owns 27,969,282 shares of the financial services provider’s stock valued at $866,768,000 after purchasing an additional 360,987 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Ally Financial by 15.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,067,862 shares of the financial services provider’s stock valued at $250,023,000 after acquiring an additional 1,096,715 shares in the last quarter. LSV Asset Management raised its holdings in Ally Financial by 0.4% in the second quarter. LSV Asset Management now owns 4,981,340 shares of the financial services provider’s stock valued at $154,371,000 after acquiring an additional 20,218 shares in the last quarter. Man Group plc raised its holdings in Ally Financial by 91.6% in the second quarter. Man Group plc now owns 3,288,056 shares of the financial services provider’s stock valued at $101,897,000 after acquiring an additional 1,571,769 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Ally Financial by 0.6% in the second quarter. Northern Trust Corp now owns 3,074,054 shares of the financial services provider’s stock valued at $95,265,000 after acquiring an additional 18,483 shares in the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Stephens raised shares of Ally Financial from an “equal” rating to a “weight” rating and increased their target price for the stock from $37.00 to $44.00 in a report on Monday, September 9th. Nomura increased their target price on shares of Ally Financial from $29.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. JPMorgan Chase & Co. cut shares of Ally Financial from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $35.00 to $33.00 in a report on Tuesday. Citigroup increased their target price on shares of Ally Financial from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Ally Financial in a report on Sunday, July 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $36.67.
Shares of Ally Financial stock traded up $0.27 during trading on Thursday, hitting $30.72. 32,552 shares of the stock were exchanged, compared to its average volume of 4,053,509. The stock’s fifty day moving average is $32.51 and its 200 day moving average is $30.78. The stock has a market cap of $12.26 billion, a PE ratio of 9.20, a P/E/G ratio of 0.62 and a beta of 1.30. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.07 and a current ratio of 1.07. Ally Financial Inc has a 12 month low of $20.60 and a 12 month high of $35.42.
Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Ally Financial had a net margin of 26.59% and a return on equity of 10.89%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Sell-side analysts anticipate that Ally Financial Inc will post 3.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.21%. Ally Financial’s dividend payout ratio is currently 20.36%.
In related news, CAO David J. Debrunner sold 2,222 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $33.43, for a total value of $74,281.46. Following the completion of the transaction, the chief accounting officer now owns 99,091 shares in the company, valued at approximately $3,312,612.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Diane E. Morais sold 15,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $33.35, for a total transaction of $500,250.00. Following the completion of the transaction, the insider now owns 220,048 shares of the company’s stock, valued at approximately $7,338,600.80. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock valued at $716,806 in the last 90 days. Insiders own 0.35% of the company’s stock.
Ally Financial Company Profile
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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