Carillon Tower Advisers Inc. purchased a new position in shares of Ally Financial Inc (NYSE:ALLY) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 629,650 shares of the financial services provider’s stock, valued at approximately $20,879,000.
Several other institutional investors and hedge funds have also modified their holdings of ALLY. Principle Wealth Partners LLC raised its holdings in Ally Financial by 37.6% in the third quarter. Principle Wealth Partners LLC now owns 12,800 shares of the financial services provider’s stock valued at $424,000 after acquiring an additional 3,500 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Ally Financial in the third quarter valued at approximately $347,000. New England Research & Management Inc. acquired a new stake in Ally Financial in the third quarter valued at approximately $330,000. First Trust Advisors LP raised its holdings in Ally Financial by 14.2% in the third quarter. First Trust Advisors LP now owns 1,032,597 shares of the financial services provider’s stock valued at $34,241,000 after acquiring an additional 128,341 shares in the last quarter. Finally, Symmetry Partners LLC acquired a new stake in Ally Financial in the third quarter valued at approximately $611,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.
ALLY stock opened at $31.41 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 2.47. Ally Financial Inc has a twelve month low of $20.60 and a twelve month high of $35.42. The company’s 50 day moving average is $31.65 and its two-hundred day moving average is $31.21. The stock has a market cap of $11.99 billion, a P/E ratio of 8.53, a PEG ratio of 0.67 and a beta of 1.29.
Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.03. Ally Financial had a net margin of 26.29% and a return on equity of 10.69%. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts predict that Ally Financial Inc will post 3.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.68 dividend on an annualized basis and a yield of 2.16%. Ally Financial’s payout ratio is currently 20.36%.
In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $33.43, for a total transaction of $74,281.46. Following the sale, the chief accounting officer now owns 99,091 shares of the company’s stock, valued at $3,312,612.13. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 6,666 shares of company stock worth $212,134. 0.35% of the stock is owned by corporate insiders.
ALLY has been the topic of several analyst reports. Barclays raised their target price on shares of Ally Financial from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Nomura raised their target price on shares of Ally Financial from $29.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Stephens raised shares of Ally Financial from an “equal” rating to a “weight” rating and raised their target price for the company from $37.00 to $44.00 in a report on Monday, September 9th. ValuEngine cut shares of Ally Financial from a “sell” rating to a “strong sell” rating in a report on Monday. Finally, JPMorgan Chase & Co. cut shares of Ally Financial from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $35.00 to $33.00 in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Ally Financial has an average rating of “Hold” and an average target price of $36.58.
Ally Financial Company 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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