Mn Services Vermogensbeheer B.V. lessened its stake in Ally Financial Inc (NYSE:ALLY) by 11.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 208,678 shares of the financial services provider’s stock after selling 28,300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Ally Financial were worth $6,467,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of ALLY. Magnolia Group LLC grew its position in Ally Financial by 30.5% in the first quarter. Magnolia Group LLC now owns 5,626,671 shares of the financial services provider’s stock valued at $154,677,000 after acquiring an additional 1,315,199 shares during the last quarter. FMR LLC grew its position in Ally Financial by 129.3% in the first quarter. FMR LLC now owns 1,801,409 shares of the financial services provider’s stock valued at $49,521,000 after acquiring an additional 1,015,634 shares during the last quarter. Bank of Montreal Can grew its position in Ally Financial by 699.1% in the first quarter. Bank of Montreal Can now owns 595,671 shares of the financial services provider’s stock valued at $16,375,000 after acquiring an additional 521,125 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in Ally Financial by 157.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 834,084 shares of the financial services provider’s stock valued at $22,929,000 after acquiring an additional 509,767 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Ally Financial by 478.2% in the first quarter. BNP Paribas Arbitrage SA now owns 546,466 shares of the financial services provider’s stock valued at $15,022,000 after acquiring an additional 451,956 shares during the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on ALLY shares. Nomura lifted their target price on Ally Financial from $29.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. 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. Citigroup set a $39.00 target price on Ally Financial and gave the company a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research cut Ally Financial from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a research report on Tuesday, July 2nd. Finally, Barclays reiterated a “buy” rating on shares of Ally Financial in a research report on Sunday, July 21st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $35.00.
Shares of NYSE:ALLY traded up $0.57 during midday trading on Thursday, hitting $32.12. 58,317 shares of the stock were exchanged, compared to its average volume of 3,839,561. The firm has a market cap of $12.01 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.61 and a beta of 1.31. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50-day simple moving average is $31.83. Ally Financial Inc has a 12 month low of $20.60 and a 12 month high of $34.22.
Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Ally Financial had a return on equity of 10.89% and a net margin of 26.59%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 earnings per share. Research analysts forecast that Ally Financial Inc will post 3.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, July 31st. 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, July 1st. The stock was sold at an average price of $31.32, for a total transaction of $69,593.04. Following the sale, the chief accounting officer now directly owns 105,757 shares in the company, valued at $3,312,309.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Diane E. Morais sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $33.35, for a total value of $500,250.00. Following the sale, the insider now owns 220,048 shares in the company, valued at $7,338,600.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,666 shares of company stock worth $706,918. Company insiders own 0.35% of the company’s stock.
Ally Financial 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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