American International Group Inc. purchased a new position in Ally Financial Inc (NYSE:ALLY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,296 shares of the financial services provider’s stock, valued at approximately $271,000.
Several other large investors have also added to or reduced their stakes in ALLY. The Manufacturers Life Insurance Company increased its holdings in Ally Financial by 15.4% in the second quarter. The Manufacturers Life Insurance Company now owns 19,208 shares of the financial services provider’s stock valued at $401,000 after buying an additional 2,566 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Ally Financial in the third quarter valued at about $241,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Ally Financial by 7.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 65,623 shares of the financial services provider’s stock valued at $1,592,000 after buying an additional 4,531 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Ally Financial by 23.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 81,114 shares of the financial services provider’s stock valued at $1,968,000 after buying an additional 15,531 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Ally Financial by 75.2% in the third quarter. BNP Paribas Arbitrage SA now owns 209,264 shares of the financial services provider’s stock valued at $5,077,000 after buying an additional 89,822 shares during the last quarter.
Several brokerages recently weighed in on ALLY. BMO Capital Markets lowered Ally Financial from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a report on Wednesday, January 31st. Oppenheimer began coverage on Ally Financial in a report on Monday, January 8th. They issued a “buy” rating and a $38.00 price objective for the company. Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 price objective on shares of Ally Financial in a report on Tuesday, January 30th. Wells Fargo & Co reissued an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Ally Financial in a report on Wednesday, January 31st. Finally, Morgan Stanley boosted their price objective on Ally Financial from $28.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $32.41.
Ally Financial (NYSE:ALLY) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.11. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. Ally Financial had a return on equity of 8.10% and a net margin of 13.73%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. sell-side analysts predict that Ally Financial Inc will post 3.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, January 31st. This is a positive change from Ally Financial’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.81%. Ally Financial’s dividend payout ratio is 22.61%.
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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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