Raymond James Trust N.A. purchased a new position in Ally Financial Inc (NYSE:ALLY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,626 shares of the financial services provider’s stock, valued at approximately $210,000.
Several other hedge funds and other institutional investors also recently modified their holdings of ALLY. Renaissance Technologies LLC increased its position in shares of Ally Financial by 1,106.7% in the third quarter. Renaissance Technologies LLC now owns 756,600 shares of the financial services provider’s stock worth $20,012,000 after purchasing an additional 693,900 shares during the period. Macquarie Group Ltd. increased its position in shares of Ally Financial by 11.9% in the third quarter. Macquarie Group Ltd. now owns 86,200 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 9,200 shares during the period. Nordea Investment Management AB increased its position in shares of Ally Financial by 2.1% in the third quarter. Nordea Investment Management AB now owns 236,641 shares of the financial services provider’s stock worth $6,259,000 after purchasing an additional 4,941 shares during the period. NorthCoast Asset Management LLC grew its position in Ally Financial by 232.1% in the third quarter. NorthCoast Asset Management LLC now owns 263,935 shares of the financial services provider’s stock valued at $6,981,000 after acquiring an additional 184,462 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC grew its position in Ally Financial by 175.2% in the third quarter. Paradigm Asset Management Co. LLC now owns 47,670 shares of the financial services provider’s stock valued at $1,261,000 after acquiring an additional 30,350 shares during the last quarter.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Ally Financial from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Thursday, April 11th. BMO Capital Markets lifted their target price on Ally Financial to $39.00 and gave the company a “market perform” rating in a research report on Monday. Morgan Stanley lifted their target price on Ally Financial from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday. Oppenheimer set a $33.00 target price on Ally Financial and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Sandler O’Neill upgraded Ally Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $29.00 to $33.00 in a research report on Tuesday, February 26th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $32.85.
Ally Financial stock opened at $29.76 on Wednesday. Ally Financial Inc has a 12-month low of $20.60 and a 12-month high of $30.20. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 3.33. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 0.50 and a beta of 1.36.
Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Ally Financial had a return on equity of 11.01% and a net margin of 23.12%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 earnings per share. As a group, equities analysts anticipate that Ally Financial Inc will post 3.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio (DPR) is currently 20.36%.
In other news, CAO David J. Debrunner sold 2,222 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $27.73, for a total transaction of $61,616.06. Following the sale, the chief accounting officer now directly owns 112,423 shares in the company, valued at $3,117,489.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael F. Steib purchased 2,000 shares of Ally Financial stock in a transaction dated Monday, February 11th. The shares were purchased at an average price of $26.47 per share, for a total transaction of $52,940.00. Following the completion of the acquisition, the director now owns 29,027 shares of the company’s stock, valued at approximately $768,344.69. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.
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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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