First Republic Investment Management Inc. Raises Position in Ally Financial Inc (ALLY)

First Republic Investment Management Inc. increased its position in shares of Ally Financial Inc (NYSE:ALLY) by 20.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,423 shares of the financial services provider’s stock after purchasing an additional 2,292 shares during the quarter. First Republic Investment Management Inc.’s holdings in Ally Financial were worth $353,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Northern Trust Corp increased its stake in shares of Ally Financial by 0.8% in the first quarter. Northern Trust Corp now owns 3,511,644 shares of the financial services provider’s stock worth $95,340,000 after purchasing an additional 27,071 shares in the last quarter. BlackRock Inc. increased its stake in shares of Ally Financial by 7.6% in the first quarter. BlackRock Inc. now owns 24,388,855 shares of the financial services provider’s stock worth $662,156,000 after purchasing an additional 1,716,240 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Ally Financial by 33.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 49,868 shares of the financial services provider’s stock worth $1,354,000 after purchasing an additional 12,397 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Ally Financial by 14.2% in the first quarter. Toronto Dominion Bank now owns 30,268 shares of the financial services provider’s stock worth $822,000 after purchasing an additional 3,756 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Ally Financial by 41.4% in the first quarter. New York State Common Retirement Fund now owns 1,860,699 shares of the financial services provider’s stock worth $50,518,000 after purchasing an additional 544,707 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

ALLY has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America raised shares of Ally Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $35.00 in a research note on Monday, July 30th. Stephens reaffirmed a “hold” rating and set a $32.00 price objective on shares of Ally Financial in a research note on Friday, July 27th. TheStreet raised shares of Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, July 19th. Finally, Janney Montgomery Scott raised shares of Ally Financial from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Friday, June 29th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.75.

Shares of Ally Financial stock opened at $26.75 on Thursday. Ally Financial Inc has a 1 year low of $23.64 and a 1 year high of $31.29. The company has a market cap of $11.52 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 0.70 and a beta of 1.34. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.21 and a quick ratio of 1.21.

Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, July 26th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. Ally Financial had a net margin of 15.62% and a return on equity of 9.45%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the business posted $0.55 earnings per share. equities research analysts predict that Ally Financial Inc will post 3.09 earnings per share for the current fiscal year.

Ally Financial Company Profile

Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates 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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