Dean Capital Investments Management LLC purchased a new position in shares of Ally Financial Inc (NYSE:ALLY) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,968 shares of the financial services provider’s stock, valued at approximately $219,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. LaSalle Street Capital Management LLC grew its stake in shares of Ally Financial by 0.6% during the 4th quarter. LaSalle Street Capital Management LLC now owns 66,608 shares of the financial services provider’s stock worth $1,509,000 after acquiring an additional 392 shares in the last quarter. Saturna Capital CORP boosted its holdings in shares of Ally Financial by 1.1% in the 4th quarter. Saturna Capital CORP now owns 45,125 shares of the financial services provider’s stock valued at $1,023,000 after buying an additional 500 shares during the last quarter. M&T Bank Corp boosted its holdings 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 buying an additional 539 shares during the last quarter. Private Capital Group LLC boosted its holdings in shares of Ally Financial by 53.5% in the 4th quarter. Private Capital Group LLC now owns 1,820 shares of the financial services provider’s stock valued at $41,000 after buying an additional 634 shares during the last quarter. Finally, Standard Life Aberdeen plc boosted its holdings in shares of Ally Financial by 0.5% in the 4th quarter. Standard Life Aberdeen plc now owns 148,501 shares of the financial services provider’s stock valued at $3,321,000 after buying an additional 684 shares during the last quarter.
Shares of NYSE ALLY opened at $28.74 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.15 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 capitalization of $11.67 billion, a P/E ratio of 8.60, a P/E/G ratio of 0.58 and a beta of 1.38.
Ally Financial declared that its Board of Directors has approved a share buyback program on Monday, April 1st that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 10.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Tuesday, April 30th. Ally Financial’s payout ratio is currently 20.36%.
In related news, CEO Jeffrey Jonathan Brown sold 97,311 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $27.01, for a total value of $2,628,370.11. Following the transaction, the chief executive officer now owns 632,569 shares in the company, valued at $17,085,688.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mayree C. Clark purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought 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 of the company’s stock, valued at approximately $1,374,028.08. The disclosure for this purchase can be found here. Insiders sold 101,755 shares of company stock worth $2,756,202 in the last 90 days. 0.35% of the stock is owned by company insiders.
Several equities research analysts have recently commented on the company. BMO Capital Markets increased 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 target 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 target on Ally Financial and gave the company a “buy” rating in a report on Wednesday, April 17th. Zacks Investment Research downgraded Ally Financial from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Sandler O’Neill raised Ally Financial from a “hold” rating to a “buy” rating and raised their price target for the company from $29.00 to $33.00 in a report on Tuesday, February 26th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus 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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