Quantinno Capital Management LP lifted its stake in shares of Ally Financial Inc. (NYSE:ALLY – Free Report) by 48.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,056,254 shares of the financial services provider’s stock after purchasing an additional 345,750 shares during the period. Quantinno Capital Management LP’s holdings in Ally Financial were worth $41,437,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its stake in Ally Financial by 19.5% in the fourth quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock valued at $646,347,000 after buying an additional 2,332,610 shares during the period. Dimensional Fund Advisors LP increased its stake in Ally Financial by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider’s stock worth $353,776,000 after acquiring an additional 309,638 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Ally Financial by 11.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider’s stock valued at $266,134,000 after buying an additional 712,443 shares during the period. Geode Capital Management LLC raised its position in Ally Financial by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider’s stock valued at $243,795,000 after purchasing an additional 241,000 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Ally Financial by 0.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,867,023 shares of the financial services provider’s stock worth $175,137,000 after buying an additional 20,198 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently commented on ALLY shares. Morgan Stanley increased their price objective on shares of Ally Financial from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Bank of America upped their target price on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wells Fargo & Company lifted their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Evercore reiterated an “outperform” rating and set a $54.00 target price on shares of Ally Financial in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group upped their price target on Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Ally Financial currently has an average rating of “Moderate Buy” and an average price target of $53.86.
Ally Financial Price Performance
Shares of NYSE ALLY opened at $43.56 on Friday. Ally Financial Inc. has a twelve month low of $35.92 and a twelve month high of $47.29. The stock’s 50 day moving average price is $44.42 and its 200-day moving average price is $42.51. The company has a market capitalization of $13.25 billion, a PE ratio of 10.27, a PEG ratio of 0.27 and a beta of 1.09. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.
Ally Financial (NYSE:ALLY – Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the company earned $0.99 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Ally Financial Inc. will post 5.19 EPS for the current year.
Ally Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, July 31st. Ally Financial’s payout ratio is 28.30%.
Insider Activity
In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the sale, the insider directly owned 93,927 shares in the company, valued at $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.
Ally Financial Profile
Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.
In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.
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