Ally Financial Inc. $ALLY Shares Acquired by NewSquare Capital LLC

NewSquare Capital LLC grew its stake in Ally Financial Inc. (NYSE:ALLY) by 21,520.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 27,891 shares of the financial services provider’s stock after acquiring an additional 27,762 shares during the period. NewSquare Capital LLC’s holdings in Ally Financial were worth $1,093,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in ALLY. Allworth Financial LP increased its holdings in Ally Financial by 385.2% in the 2nd quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 597 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Ally Financial during the third quarter worth $31,000. Hantz Financial Services Inc. grew its stake in shares of Ally Financial by 662.0% in the second quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock valued at $32,000 after buying an additional 715 shares in the last quarter. MAI Capital Management grew its stake in shares of Ally Financial by 45.1% in the second quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock valued at $38,000 after buying an additional 303 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Ally Financial by 98.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the financial services provider’s stock valued at $44,000 after buying an additional 552 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Insider Transactions at Ally Financial

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

Ally Financial Stock Down 1.2%

Shares of Ally Financial stock opened at $39.94 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $47.27. The company has a market capitalization of $12.35 billion, a P/E ratio of 17.00, a P/E/G ratio of 0.21 and a beta of 1.18. The company has a 50 day moving average of $42.81 and a 200 day moving average of $41.67.

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

Ally Financial announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 10th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 15.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, February 2nd. Ally Financial’s payout ratio is 51.06%.

Analyst Ratings Changes

ALLY has been the subject of a number of research analyst reports. 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. TD Cowen reissued a “buy” rating on shares of Ally Financial in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Weiss Ratings lowered shares of Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $52.00 price target on shares of Ally Financial in a research report on Monday, January 12th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.31.

Ally Financial Profile

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.