Handelsbanken Fonder AB Raises Holdings in Ally Financial Inc. (NYSE:ALLY)

Handelsbanken Fonder AB lifted its position in Ally Financial Inc. (NYSE:ALLY) by 37.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,100 shares of the financial services provider’s stock after purchasing an additional 22,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ally Financial were worth $2,920,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in Ally Financial by 0.5% during the third quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock valued at $380,981,000 after purchasing an additional 51,426 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Ally Financial by 233.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock valued at $87,509,000 after buying an additional 1,701,264 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Ally Financial by 217.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock valued at $81,260,000 after buying an additional 1,563,008 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Ally Financial by 19.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,106,589 shares of the financial services provider’s stock valued at $74,974,000 after acquiring an additional 344,543 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Ally Financial by 4.7% in the third quarter. Jennison Associates LLC now owns 1,672,812 shares of the financial services provider’s stock worth $59,535,000 after acquiring an additional 75,080 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $36.87 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The stock’s fifty day moving average price is $37.15 and its 200-day moving average price is $37.29. The firm has a market cap of $11.32 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.34 and a beta of 1.45. Ally Financial Inc. has a 12 month low of $31.95 and a 12 month high of $45.46.

Ally Financial (NYSE:ALLY) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Friday, January 31st. Ally Financial’s dividend payout ratio (DPR) is 46.15%.

Insiders Place Their Bets

In other news, CFO Russell E. Hutchinson acquired 19,100 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were purchased at an average price of $39.45 per share, with a total value of $753,495.00. Following the transaction, the chief financial officer now directly owns 202,845 shares in the company, valued at approximately $8,002,235.25. This represents a 10.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael George Rhodes acquired 25,634 shares of Ally Financial stock in a transaction that occurred on Monday, January 27th. The shares were purchased at an average price of $39.09 per share, with a total value of $1,002,033.06. Following the purchase, the chief executive officer now owns 25,634 shares in the company, valued at $1,002,033.06. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Ally Financial from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. StockNews.com lowered Ally Financial from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on shares of Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ally Financial from $44.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.76.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.