Stevens Capital Management LP lessened its holdings in Ally Financial Inc (NYSE:ALLY) by 39.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,053 shares of the financial services provider’s stock after selling 31,034 shares during the period. Stevens Capital Management LP’s holdings in Ally Financial were worth $1,245,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in ALLY. Tower Research Capital LLC TRC bought a new stake in shares of Ally Financial during the second quarter worth about $149,000. NEXT Financial Group Inc bought a new stake in shares of Ally Financial during the third quarter worth about $153,000. Legacy Financial Advisors Inc. grew its holdings in shares of Ally Financial by 58.1% during the third quarter. Legacy Financial Advisors Inc. now owns 6,152 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 2,261 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Ally Financial during the second quarter worth about $159,000. Finally, Dakota Wealth Management bought a new stake in shares of Ally Financial during the second quarter worth about $248,000. Hedge funds and other institutional investors own 98.90% of the company’s stock.
In other Ally Financial news, CAO David J. Debrunner sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $26.35, for a total value of $658,750.00. Following the transaction, the chief accounting officer now directly owns 102,155 shares of the company’s stock, valued at $2,691,784.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by insiders.
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 Thomson Reuters’ consensus estimate of $0.80 by $0.11. Ally Financial had a return on equity of 10.25% and a net margin of 16.87%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Equities analysts predict that Ally Financial Inc will post 3.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, October 31st. Ally Financial’s dividend payout ratio (DPR) is presently 25.10%.
Several research firms have recently weighed in on ALLY. Oppenheimer set a $32.00 price target on Ally Financial and gave the stock a “buy” rating in a report on Thursday, October 25th. Zacks Investment Research restated a “buy” rating and set a $27.00 price target on shares of Ally Financial in a report on Monday, November 12th. ValuEngine cut Ally Financial from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Nomura reduced their price target on Ally Financial from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Finally, Piper Jaffray Companies set a $34.00 price objective on Ally Financial and gave the stock a “buy” rating in a research note on Monday, October 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $32.53.
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Ally Financial Company Profile
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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