Xponance Inc. acquired a new position in shares of Ally Financial Inc. (NYSE:ALLY – Get Rating) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 6,117 shares of the financial services provider’s stock, valued at approximately $205,000.
Other large investors also recently modified their holdings of the company. Verdence Capital Advisors LLC acquired a new stake in shares of Ally Financial during the first quarter worth $212,000. Allworth Financial LP boosted its stake in Ally Financial by 79.9% during the first quarter. Allworth Financial LP now owns 4,666 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 2,073 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Ally Financial by 3.1% during the first quarter. Eagle Asset Management Inc. now owns 187,937 shares of the financial services provider’s stock worth $8,171,000 after acquiring an additional 5,713 shares in the last quarter. Pendal Group Ltd boosted its stake in Ally Financial by 47.9% during the first quarter. Pendal Group Ltd now owns 28,946 shares of the financial services provider’s stock worth $1,259,000 after acquiring an additional 9,379 shares in the last quarter. Finally, MBL Wealth LLC bought a new position in Ally Financial during the first quarter worth $290,000. 91.57% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ALLY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Ally Financial from $70.00 to $55.00 in a research note on Wednesday, July 20th. Barclays cut their target price on shares of Ally Financial from $49.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 20th. Citigroup dropped their price objective on shares of Ally Financial from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, October 20th. Morgan Stanley lowered shares of Ally Financial from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $40.00 to $28.00 in a research note on Thursday, October 20th. Finally, The Goldman Sachs Group dropped their price objective on shares of Ally Financial from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.88.
Ally Financial Stock Performance
NYSE ALLY opened at $28.29 on Friday. Ally Financial Inc. has a 52-week low of $25.33 and a 52-week high of $53.83. The company has a 50-day simple moving average of $30.74 and a 200 day simple moving average of $35.05. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market capitalization of $8.73 billion, a PE ratio of 4.77, a price-to-earnings-growth ratio of 0.13 and a beta of 1.34.
Ally Financial (NYSE:ALLY – Get Rating) last posted its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.61). Ally Financial had a return on equity of 18.38% and a net margin of 24.78%. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the business posted $2.16 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. On average, research analysts predict that Ally Financial Inc. will post 6.38 EPS for the current year.
Ally Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, October 31st. This represents a $1.20 annualized dividend and a dividend yield of 4.24%. Ally Financial’s payout ratio is 20.24%.
Insider Transactions at Ally Financial
In other Ally Financial news, Director Marjorie Magner bought 2,000 shares of Ally Financial stock in a transaction dated Tuesday, October 25th. The stock was purchased at an average price of $27.43 per share, for a total transaction of $54,860.00. Following the completion of the purchase, the director now directly owns 55,603 shares of the company’s stock, valued at $1,525,190.29. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.
Ally Financial Company Profile
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Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
See Also
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