Legacy Financial Advisors Inc. increased its stake in Ally Financial Inc (NYSE:ALLY) by 58.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,152 shares of the financial services provider’s stock after purchasing an additional 2,261 shares during the period. Legacy Financial Advisors Inc.’s holdings in Ally Financial were worth $162,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in ALLY. BlackRock Inc. lifted its holdings in shares of Ally Financial by 8.8% in the 2nd quarter. BlackRock Inc. now owns 26,537,339 shares of the financial services provider’s stock worth $697,136,000 after purchasing an additional 2,148,484 shares during the last quarter. Unigestion Holding SA bought a new stake in Ally Financial during the 2nd quarter valued at $32,286,000. LSV Asset Management raised its stake in Ally Financial by 32.6% during the 2nd quarter. LSV Asset Management now owns 4,152,079 shares of the financial services provider’s stock valued at $109,075,000 after acquiring an additional 1,021,238 shares in the last quarter. Janus Henderson Group PLC raised its stake in Ally Financial by 86.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,163,208 shares of the financial services provider’s stock valued at $56,827,000 after acquiring an additional 1,001,501 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Ally Financial by 12.0% during the 1st quarter. Allianz Asset Management GmbH now owns 7,378,519 shares of the financial services provider’s stock valued at $200,327,000 after acquiring an additional 787,975 shares in the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on ALLY. TheStreet raised Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, July 19th. Zacks Investment Research downgraded Ally Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Stephens reaffirmed a “hold” rating and set a $32.00 target price on shares of Ally Financial in a research note on Friday, July 27th. Bank of America raised Ally Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $35.00 in a research note on Monday, July 30th. Finally, Oppenheimer set a $35.00 target price on Ally Financial and gave the company a “buy” rating in a research note on Thursday, October 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Ally Financial has a consensus rating of “Buy” and a consensus price target of $32.72.
Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. Ally Financial had a return on equity of 10.22% and a net margin of 16.87%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Equities research analysts predict that Ally Financial Inc will post 3.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, October 31st. Ally Financial’s dividend payout ratio (DPR) is presently 25.10%.
About Ally Financial
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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