Royal London Asset Management Ltd. decreased its position in shares of Ally Financial Inc (NYSE:ALLY) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,381 shares of the financial services provider’s stock after selling 21,396 shares during the period. Royal London Asset Management Ltd.’s holdings in Ally Financial were worth $4,520,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. raised its stake in shares of Ally Financial by 3.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 83,876 shares of the financial services provider’s stock valued at $1,901,000 after acquiring an additional 2,538 shares in the last quarter. PL Capital Advisors LLC increased its holdings in Ally Financial by 11.4% during the fourth quarter. PL Capital Advisors LLC now owns 167,431 shares of the financial services provider’s stock valued at $3,794,000 after buying an additional 17,200 shares during the period. Millennium Management LLC increased its holdings in Ally Financial by 47.8% during the fourth quarter. Millennium Management LLC now owns 1,149,888 shares of the financial services provider’s stock valued at $26,056,000 after buying an additional 371,947 shares during the period. First Hawaiian Bank increased its holdings in Ally Financial by 5.9% during the first quarter. First Hawaiian Bank now owns 21,780 shares of the financial services provider’s stock valued at $599,000 after buying an additional 1,221 shares during the period. Finally, M&T Bank Corp increased its holdings in Ally Financial by 5.3% during the fourth quarter. M&T Bank Corp now owns 10,797 shares of the financial services provider’s stock valued at $243,000 after buying an additional 539 shares during the period. Institutional investors own 97.19% of the company’s stock.
In related news, Director Mayree C. Clark purchased 5,000 shares of Ally Financial stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $29.71 per share, for a total transaction of $148,550.00. Following the transaction, the director now directly owns 46,248 shares in the company, valued at $1,374,028.08. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CAO David J. Debrunner sold 2,222 shares of the company’s stock in a transaction dated 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 approximately $3,283,989.80. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.
Shares of Ally Financial stock traded down $0.08 during trading hours on Wednesday, reaching $29.23. The stock had a trading volume of 2,019,345 shares, compared to its average volume of 3,382,847. The company has a market cap of $11.51 billion, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 0.58 and a beta of 1.38. Ally Financial Inc has a twelve month low of $20.60 and a twelve month high of $30.27. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.11 and a current ratio of 1.11.
Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, topping 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 business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company’s revenue was up 13.9% compared to the same quarter last year. Equities research analysts forecast that Ally Financial Inc will post 3.62 EPS for the current year.
Ally Financial announced that its board has authorized a stock repurchase plan on Monday, April 1st that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 10.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.17 per share. 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 (DPR) is presently 20.36%.
Several brokerages recently issued reports on ALLY. BMO Capital Markets lifted their price objective on shares of Ally Financial to $39.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. Morgan Stanley lifted their price objective on shares of 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 target on shares of Ally Financial and gave the stock a “buy” rating in a report on Wednesday, April 17th. Zacks Investment Research lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Sandler O’Neill raised shares of 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 issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.92.
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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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