Fox Run Management L.L.C. Trims Stake in Ally Financial Inc. $ALLY

Fox Run Management L.L.C. cut its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 56.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,937 shares of the financial services provider’s stock after selling 27,979 shares during the quarter. Fox Run Management L.L.C.’s holdings in Ally Financial were worth $860,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its holdings in Ally Financial by 39.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider’s stock valued at $210,352,000 after buying an additional 1,523,425 shares during the period. Bank of America Corp DE raised its stake in shares of Ally Financial by 38.9% in the 2nd quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock valued at $146,888,000 after acquiring an additional 1,056,060 shares during the period. ANTIPODES PARTNERS Ltd raised its stake in shares of Ally Financial by 7.7% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 3,500,623 shares of the financial services provider’s stock valued at $136,360,000 after acquiring an additional 249,347 shares during the period. Norges Bank acquired a new position in shares of Ally Financial in the 2nd quarter worth approximately $95,897,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Ally Financial by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,384,980 shares of the financial services provider’s stock worth $92,895,000 after purchasing an additional 72,444 shares during the period. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $41.92 on Friday. The stock’s 50-day moving average is $43.44 and its two-hundred day moving average is $41.62. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $47.27. The company has a market cap of $12.91 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 0.21 and a beta of 1.19.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the business posted $0.78 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Ally Financial’s dividend payout ratio is currently 51.06%.

Ally Financial declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 10th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 15.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

ALLY has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 target price on shares of Ally Financial in a research report on Tuesday, January 6th. UBS Group set a $48.00 price objective on Ally Financial in a research note on Monday, January 12th. Morgan Stanley set a $53.00 target price on Ally Financial and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Barclays raised their target price on Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ally Financial from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.31.

Insiders Place Their Bets

In other news, CFO Russell E. Hutchinson acquired 11,566 shares of Ally Financial stock in a transaction dated Tuesday, January 27th. The shares were acquired at an average cost of $43.17 per share, for a total transaction of $499,304.22. Following the acquisition, the chief financial officer owned 225,336 shares of the company’s stock, valued at $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael George Rhodes bought 23,800 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average price of $41.68 per share, with a total value of $991,984.00. Following the purchase, the chief executive officer owned 49,434 shares of the company’s stock, valued at approximately $2,060,409.12. This represents a 92.85% increase in their position. The SEC filing for this purchase provides additional information. 0.67% of the stock is currently owned by company insiders.

About Ally Financial

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.