Gabelli Funds LLC Lowers Stake in Ally Financial Inc (NYSE:ALLY)

Gabelli Funds LLC cut its position in shares of Ally Financial Inc (NYSE:ALLY) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,700 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Gabelli Funds LLC’s holdings in Ally Financial were worth $1,250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALLY. Nuveen Asset Management LLC acquired a new stake in Ally Financial in the second quarter valued at $79,084,000. Man Group plc grew its position in shares of Ally Financial by 91.6% during the second quarter. Man Group plc now owns 3,288,056 shares of the financial services provider’s stock worth $101,897,000 after acquiring an additional 1,571,769 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Ally Financial by 15.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,067,862 shares of the financial services provider’s stock worth $250,023,000 after acquiring an additional 1,096,715 shares during the last quarter. FMR LLC grew its position in shares of Ally Financial by 129.3% during the first quarter. FMR LLC now owns 1,801,409 shares of the financial services provider’s stock worth $49,521,000 after acquiring an additional 1,015,634 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of Ally Financial during the second quarter worth about $29,384,000. Institutional investors and hedge funds own 96.14% of the company’s stock.

Shares of NYSE ALLY traded down $0.05 during midday trading on Monday, reaching $31.51. 8,114 shares of the company traded hands, compared to its average volume of 3,549,639. The firm has a market cap of $12.70 billion, a PE ratio of 9.43, a PEG ratio of 0.69 and a beta of 1.29. The stock’s 50-day simple moving average is $31.74 and its 200-day simple moving average is $31.20. Ally Financial Inc has a 12 month low of $20.60 and a 12 month high of $35.42. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.07 and a current ratio of 1.07.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.03. Ally Financial had a return on equity of 10.83% and a net margin of 26.29%. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business posted $0.91 EPS. Ally Financial’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Ally Financial Inc will post 3.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, October 31st. Ally Financial’s dividend payout ratio is currently 20.36%.

Several equities analysts have recently commented on ALLY shares. Nomura upped their price target on shares of Ally Financial from $29.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Wells Fargo & Co reissued a “buy” rating on shares of Ally Financial in a report on Sunday, July 21st. Stephens raised shares of Ally Financial from an “equal” rating to a “weight” rating and upped their price target for the company from $37.00 to $44.00 in a report on Monday, September 9th. Citigroup reduced their price objective on shares of Ally Financial from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Barclays upped their price objective on shares of Ally Financial from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $36.58.

In related news, CAO David J. Debrunner sold 2,222 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $33.43, for a total transaction of $74,281.46. Following the transaction, the chief accounting officer now directly owns 99,091 shares of the company’s stock, valued at approximately $3,312,612.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 6,666 shares of company stock worth $212,134. Company insiders own 0.35% of the company’s stock.

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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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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