Meag Munich Ergo Kapitalanlagegesellschaft MBH decreased its position in Ally Financial Inc (NYSE:ALLY) by 59.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,208 shares of the financial services provider’s stock after selling 52,538 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Ally Financial were worth $960,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its stake in shares of Ally Financial by 3.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 83,876 shares of the financial services provider’s stock valued at $1,901,000 after purchasing an additional 2,538 shares during the period. PL Capital Advisors LLC raised its stake in shares of Ally Financial by 11.4% in the 4th quarter. PL Capital Advisors LLC now owns 167,431 shares of the financial services provider’s stock valued at $3,794,000 after purchasing an additional 17,200 shares during the period. Millennium Management LLC raised its stake in shares of Ally Financial by 47.8% in the 4th quarter. Millennium Management LLC now owns 1,149,888 shares of the financial services provider’s stock valued at $26,056,000 after purchasing an additional 371,947 shares during the period. First Hawaiian Bank raised its stake in shares of Ally Financial by 5.9% in the 1st quarter. First Hawaiian Bank now owns 21,780 shares of the financial services provider’s stock valued at $599,000 after purchasing an additional 1,221 shares during the period. Finally, M&T Bank Corp raised its stake in shares of Ally Financial by 5.3% in the 4th quarter. M&T Bank Corp now owns 10,797 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 539 shares during the period. 99.18% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ALLY traded up $0.42 during trading on Friday, reaching $29.43. 2,370,514 shares of the stock were exchanged, compared to its average volume of 3,396,200. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.03. Ally Financial Inc has a 12 month low of $20.60 and a 12 month high of $30.27. The stock has a market cap of $11.82 billion, a PE ratio of 8.81, a P/E/G ratio of 0.59 and a beta of 1.38.
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, beating analysts’ consensus estimates of $0.79 by $0.01. Ally Financial had a net margin of 23.12% and a return on equity of 10.90%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts expect that Ally Financial Inc will post 3.62 earnings per share for the current year.
Ally Financial announced that its Board of Directors has authorized a stock repurchase program on Monday, April 1st that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 10.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.31%. Ally Financial’s payout ratio is 20.36%.
In other news, Director Mayree C. Clark acquired 5,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $29.71 per share, for a total transaction of $148,550.00. Following the completion of the transaction, the director now directly owns 46,248 shares in the company, valued at $1,374,028.08. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO David J. Debrunner sold 2,222 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $29.80, for a total transaction of $66,215.60. Following the transaction, the chief accounting officer now owns 110,201 shares of the company’s stock, valued at $3,283,989.80. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Ally Financial from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets raised their price objective on Ally Financial to $39.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. Morgan Stanley raised their price objective on Ally Financial from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Oppenheimer set a $33.00 price objective on Ally Financial and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Sandler O’Neill upgraded Ally Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $33.00 in a report on Tuesday, February 26th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Ally Financial presently has a consensus rating of “Buy” and an average target price of $32.92.
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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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