Advantage Investment Management LLC raised its position in Ally Financial Inc. (NYSE:ALLY) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,180 shares of the financial services provider’s stock after acquiring an additional 1,975 shares during the quarter. Advantage Investment Management LLC’s holdings in Ally Financial were worth $465,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in shares of Ally Financial by 1.1% during the second quarter. Franklin Resources Inc. now owns 19,424,589 shares of the financial services provider’s stock worth $405,975,000 after purchasing an additional 209,001 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Ally Financial by 7.2% in the third quarter. JPMorgan Chase & Co. now owns 18,536,031 shares of the financial services provider’s stock valued at $442,825,000 after purchasing an additional 1,251,678 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Ally Financial by 36.6% during the second quarter. Canada Pension Plan Investment Board now owns 9,244,175 shares of the financial services provider’s stock valued at $193,203,000 after acquiring an additional 2,476,190 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Ally Financial by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 8,683,736 shares of the financial services provider’s stock valued at $210,668,000 after acquiring an additional 114,270 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Ally Financial by 4.5% during the second quarter. Wedge Capital Management L L P NC now owns 7,536,055 shares of the financial services provider’s stock valued at $157,504,000 after acquiring an additional 326,850 shares during the last quarter.
A number of research firms recently commented on ALLY. Goldman Sachs Group started coverage on Ally Financial in a research note on Monday. They set a “buy” rating and a $32.00 price objective on the stock. Wells Fargo & Company initiated coverage on Ally Financial in a report on Friday. They issued an “outperform” rating and a $30.00 price objective on the stock. Morgan Stanley restated an “equal weight” rating and issued a $28.00 price objective (up from $26.00) on shares of Ally Financial in a report on Thursday, November 30th. Zacks Investment Research upgraded Ally Financial from a “sell” rating to a “hold” rating and set a $29.00 price objective on the stock in a report on Friday, October 27th. Finally, BMO Capital Markets increased their target price on Ally Financial from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $27.56.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.08. Ally Financial had a return on equity of 7.72% and a net margin of 14.75%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the business earned $0.56 EPS. research analysts anticipate that Ally Financial Inc. will post 2.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Tuesday, October 31st. Ally Financial’s dividend payout ratio (DPR) is presently 22.22%.
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Ally Financial Profile
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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