Vanguard Group Inc increased its position in Ally Financial Inc (NYSE:ALLY) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,198,795 shares of the financial services provider’s stock after purchasing an additional 43,126 shares during the period. Vanguard Group Inc owned approximately 9.25% of Ally Financial worth $1,010,357,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of Ally Financial by 67.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,530 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 3,826 shares during the last quarter. Quantbot Technologies LP purchased a new position in Ally Financial during the 3rd quarter valued at about $273,000. Rehmann Capital Advisory Group grew its holdings in Ally Financial by 2,586.6% during the 3rd quarter. Rehmann Capital Advisory Group now owns 17,624 shares of the financial services provider’s stock valued at $666,000 after buying an additional 16,968 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Ally Financial during the 3rd quarter valued at about $672,000. Finally, SG Americas Securities LLC grew its holdings in Ally Financial by 209.1% during the 3rd quarter. SG Americas Securities LLC now owns 27,740 shares of the financial services provider’s stock valued at $734,000 after buying an additional 18,767 shares in the last quarter. Institutional investors own 98.87% of the company’s stock.
ALLY has been the subject of a number of recent analyst reports. Zacks Investment Research raised Ally Financial from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Tuesday, September 25th. Oppenheimer set a $35.00 price target on Ally Financial and gave the company a “buy” rating in a research report on Thursday, October 4th. Nomura dropped their price target on Ally Financial from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. ValuEngine downgraded Ally Financial from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Finally, Piper Jaffray Companies set a $34.00 target price on Ally Financial and gave the stock a “buy” rating in a research report on Monday, October 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.07.
In related news, CAO David J. Debrunner sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $26.35, for a total transaction of $658,750.00. Following the completion of the transaction, the chief accounting officer now directly owns 102,155 shares of the company’s stock, valued at $2,691,784.25. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.
ALLY traded up $0.45 during midday trading on Friday, reaching $24.72. The company had a trading volume of 3,284,720 shares, compared to its average volume of 3,376,989. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.48. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 0.53 and a beta of 1.29. Ally Financial Inc has a 1 year low of $20.60 and a 1 year high of $31.29.
Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. Ally Financial had a return on equity of 10.25% and a net margin of 16.87%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. On average, equities analysts anticipate that Ally Financial Inc will post 3.24 earnings per share for the current fiscal year.
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Ally Financial 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.
Further Reading: Outstanding Shares
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