Virginia Retirement Systems ET AL reduced its position in shares of Ally Financial Inc (NYSE:ALLY) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 79,300 shares of the financial services provider’s stock after selling 1,200 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Ally Financial were worth $2,180,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ALLY. Nomura Asset Management Co. Ltd. boosted its stake in shares of Ally Financial by 3.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 83,876 shares of the financial services provider’s stock worth $1,901,000 after acquiring an additional 2,538 shares in the last quarter. PL Capital Advisors LLC boosted its position in shares of Ally Financial by 11.4% in the fourth quarter. PL Capital Advisors LLC now owns 167,431 shares of the financial services provider’s stock worth $3,794,000 after buying an additional 17,200 shares during the period. Millennium Management LLC boosted its position in shares of Ally Financial by 47.8% in the fourth quarter. Millennium Management LLC now owns 1,149,888 shares of the financial services provider’s stock worth $26,056,000 after buying an additional 371,947 shares during the period. First Hawaiian Bank boosted its position in shares of Ally Financial by 5.9% in the first quarter. First Hawaiian Bank now owns 21,780 shares of the financial services provider’s stock worth $599,000 after buying an additional 1,221 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Ally Financial by 5.3% in the fourth quarter. M&T Bank Corp now owns 10,797 shares of the financial services provider’s stock worth $243,000 after buying an additional 539 shares during the period.
In other Ally Financial news, CEO Jeffrey Jonathan Brown sold 97,311 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $27.01, for a total transaction of $2,628,370.11. Following the transaction, the chief executive officer now directly owns 632,569 shares in the company, valued at $17,085,688.69. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO David J. Debrunner sold 2,222 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $29.80, for a total value of $66,215.60. Following the transaction, the chief accounting officer now owns 110,201 shares in the company, valued at $3,283,989.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,755 shares of company stock worth $2,756,202. Corporate insiders own 0.35% of the company’s stock.
Shares of NYSE:ALLY traded up $0.04 during midday trading on Wednesday, hitting $29.80. 2,266,342 shares of the stock were exchanged, compared to its average volume of 3,379,026. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.03. Ally Financial Inc has a 52-week low of $20.60 and a 52-week high of $30.27. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 0.58 and a beta of 1.38.
Ally Financial (NYSE:ALLY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. Ally Financial had a return on equity of 10.90% and a net margin of 23.12%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts forecast that Ally Financial Inc will post 3.62 EPS for the current year.
Ally Financial declared that its board has authorized a stock buyback plan on Monday, April 1st that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 10.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.68 annualized dividend and a yield of 2.28%. Ally Financial’s dividend payout ratio (DPR) is currently 20.36%.
ALLY has been the subject of several recent analyst reports. BTIG Research initiated coverage on Ally Financial in a research report on Thursday, January 24th. Sandler O’Neill raised Ally Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $29.00 to $33.00 in a research report on Tuesday, February 26th. They noted that the move was a valuation call. Zacks Investment Research cut Ally Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. BMO Capital Markets raised their target price on Ally Financial to $39.00 and gave the stock a “market perform” rating in a research report on Monday, April 22nd. Finally, Oppenheimer set a $33.00 price objective on Ally Financial and gave the stock a “buy” rating in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Ally Financial presently has a consensus rating of “Buy” and an average target price of $32.92.
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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