Gyroscope Capital Management Group LLC bought a new stake in Ally Financial Inc (NYSE:ALLY) during the 3rd quarter, Holdings Channel reports. The fund bought 229,165 shares of the financial services provider’s stock, valued at approximately $7,223,000. Ally Financial makes up 2.9% of Gyroscope Capital Management Group LLC’s holdings, making the stock its 13th largest position.
A number of other large investors also recently added to or reduced their stakes in ALLY. Nuveen Asset Management LLC acquired a new position in Ally Financial in the second quarter valued at about $79,084,000. Man Group plc raised its position in shares of Ally Financial by 91.6% during the second quarter. Man Group plc now owns 3,288,056 shares of the financial services provider’s stock worth $101,897,000 after purchasing an additional 1,571,769 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Ally Financial by 15.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,067,862 shares of the financial services provider’s stock worth $250,023,000 after purchasing an additional 1,096,715 shares during the period. FMR LLC raised its position in shares of Ally Financial by 129.3% during the first quarter. FMR LLC now owns 1,801,409 shares of the financial services provider’s stock worth $49,521,000 after purchasing an additional 1,015,634 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in shares of Ally Financial during the second quarter worth about $29,384,000. 95.51% of the stock is currently owned by hedge funds and other institutional investors.
Ally Financial stock traded up $0.75 during midday trading on Friday, reaching $31.63. The stock had a trading volume of 152,926 shares, compared to its average volume of 3,847,826. The firm’s fifty day simple moving average is $32.51 and its 200-day simple moving average is $30.80. Ally Financial Inc has a 1-year low of $20.60 and a 1-year high of $35.42. The stock has a market capitalization of $11.76 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 0.59 and a beta of 1.30. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.07 and a current ratio of 1.07.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.09. Ally Financial had a return on equity of 10.89% and a net margin of 26.59%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $0.83 EPS. Ally Financial’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Ally Financial Inc will post 3.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, October 31st. Ally Financial’s dividend payout ratio is presently 20.36%.
A number of equities research analysts have recently commented on the company. Citigroup raised their price target on Ally Financial from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Ally Financial in a research report on Sunday, July 21st. ValuEngine lowered Ally Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Barclays raised their price target on Ally Financial from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Finally, Stephens raised Ally Financial from an “equal” rating to a “weight” rating and raised their price target for the stock from $37.00 to $44.00 in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $36.67.
In related news, CAO David J. Debrunner sold 2,222 shares of Ally Financial stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $33.43, for a total value of $74,281.46. Following the sale, the chief accounting officer now owns 99,091 shares of the company’s stock, valued at approximately $3,312,612.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Diane E. Morais sold 15,000 shares of Ally Financial stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $33.35, for a total value of $500,250.00. Following the completion of the sale, the insider now directly owns 220,048 shares in the company, valued at approximately $7,338,600.80. The disclosure for this sale can be found here. In the last three months, insiders sold 21,666 shares of company stock worth $716,806. 0.35% of the stock is owned by insiders.
Ally Financial Profile
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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