Toronto Dominion Bank boosted its stake in shares of Ally Financial Inc (NYSE:ALLY) by 30.8% in the 1st quarter, HoldingsChannel reports. The fund owned 74,377 shares of the financial services provider’s stock after buying an additional 17,534 shares during the period. Toronto Dominion Bank’s holdings in Ally Financial were worth $2,044,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Ally Financial during the first quarter valued at approximately $31,000. Private Capital Group LLC raised its position in Ally Financial by 53.5% during the fourth quarter. Private Capital Group LLC now owns 1,820 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 634 shares in the last quarter. Enlightenment Research LLC purchased a new position in Ally Financial during the fourth quarter valued at approximately $54,000. Truvestments Capital LLC purchased a new stake in shares of Ally Financial in the first quarter valued at approximately $74,000. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Ally Financial by 2,129.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,394,346 shares of the financial services provider’s stock valued at $106,000 after buying an additional 2,286,941 shares in the last quarter. Institutional investors own 99.18% of the company’s stock.
Shares of ALLY stock traded up $0.22 on Friday, hitting $29.23. The stock had a trading volume of 21,412 shares, compared to its average volume of 3,089,532. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.03. The company has a market capitalization of $11.82 billion, a PE ratio of 8.76, a P/E/G ratio of 0.59 and a beta of 1.38. Ally Financial Inc has a 1 year low of $20.60 and a 1 year high of $30.27.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.53 billion. Ally Financial had a return on equity of 10.90% and a net margin of 23.12%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. Research analysts predict that Ally Financial Inc will post 3.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.17 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.33%. Ally Financial’s dividend payout ratio is presently 20.36%.
Ally Financial announced that its board has initiated a stock buyback plan on Monday, April 1st that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 10.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
A number of research firms have recently commented on ALLY. Zacks Investment Research upgraded Ally Financial from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Thursday, April 11th. BTIG Research began coverage on Ally Financial in a research note on Thursday, January 24th. Oppenheimer set a $33.00 price target on Ally Financial and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BMO Capital Markets boosted their price objective on Ally Financial to $39.00 and gave the stock a “market perform” rating in a research note on Monday, April 22nd. Finally, Sandler O’Neill raised Ally Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $29.00 to $33.00 in a research note on Tuesday, February 26th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.92.
In other news, Director Mayree C. Clark acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $29.71 per share, for a total transaction of $148,550.00. Following the acquisition, the director now owns 46,248 shares of the company’s stock, valued at $1,374,028.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO David J. Debrunner sold 2,222 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $29.80, for a total value of $66,215.60. Following the completion of the sale, the chief accounting officer now owns 110,201 shares in the company, valued at approximately $3,283,989.80. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.
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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.
Further Reading: Correction
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