Greenleaf Trust bought a new position in shares of Ally Financial Inc. (NYSE:ALLY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 201,097 shares of the financial services provider’s stock, valued at approximately $4,203,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. increased its position in Ally Financial by 1,072.5% in the first quarter. BlackRock Inc. now owns 23,195,719 shares of the financial services provider’s stock valued at $471,567,000 after buying an additional 21,217,360 shares during the period. Iridian Asset Management LLC CT bought a new position in Ally Financial during the first quarter valued at approximately $143,806,000. Canada Pension Plan Investment Board increased its position in Ally Financial by 1,058.4% in the first quarter. Canada Pension Plan Investment Board now owns 6,767,985 shares of the financial services provider’s stock valued at $137,593,000 after buying an additional 6,183,710 shares during the period. Harris Associates L P increased its position in Ally Financial by 12.0% in the first quarter. Harris Associates L P now owns 40,594,446 shares of the financial services provider’s stock valued at $825,285,000 after buying an additional 4,345,639 shares during the period. Finally, Vanguard Group Inc. increased its position in Ally Financial by 10.2% in the first quarter. Vanguard Group Inc. now owns 38,532,959 shares of the financial services provider’s stock valued at $783,374,000 after buying an additional 3,551,308 shares during the period.
Shares of Ally Financial Inc. (ALLY) opened at 22.01 on Friday. Ally Financial Inc. has a 52 week low of $16.68 and a 52 week high of $23.62. The company’s 50 day moving average price is $21.71 and its 200-day moving average price is $20.80. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 11.22 and a beta of 1.42.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.42 billion. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. During the same period in the prior year, the business earned $0.54 earnings per share. Analysts anticipate that Ally Financial Inc. will post $2.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.18%. This is a positive change from Ally Financial’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, July 28th. Ally Financial’s dividend payout ratio is presently 24.49%.
Ally Financial declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $760.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
Several brokerages recently issued reports on ALLY. Piper Jaffray Companies reissued a “buy” rating on shares of Ally Financial in a research note on Friday, July 28th. BidaskClub upgraded Ally Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Sanford C. Bernstein restated an “outperform” rating and set a $31.00 price target (up previously from $30.00) on shares of Ally Financial in a report on Sunday, July 30th. TheStreet upgraded Ally Financial from a “c” rating to a “b-” rating in a report on Wednesday, July 19th. Finally, Stephens cut Ally Financial from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $23.00 to $20.00 in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.07.
Ally Financial Company 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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