Causeway Capital Management LLC Acquires 33,133 Shares of Ally Financial Inc. $ALLY

Causeway Capital Management LLC boosted its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 5.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,169 shares of the financial services provider’s stock after purchasing an additional 33,133 shares during the period. Causeway Capital Management LLC owned 0.21% of Ally Financial worth $24,938,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. MAI Capital Management grew its holdings in shares of Ally Financial by 45.1% during the second quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 303 shares during the last quarter. Bessemer Group Inc. lifted its position in Ally Financial by 33.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,234 shares of the financial services provider’s stock worth $49,000 after buying an additional 310 shares in the last quarter. LRI Investments LLC lifted its position in Ally Financial by 10.6% during the 3rd quarter. LRI Investments LLC now owns 3,352 shares of the financial services provider’s stock worth $131,000 after buying an additional 320 shares in the last quarter. CI Investments Inc. grew its holdings in Ally Financial by 20.3% during the 3rd quarter. CI Investments Inc. now owns 1,989 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 335 shares during the last quarter. Finally, Savant Capital LLC grew its holdings in Ally Financial by 2.9% during the 3rd quarter. Savant Capital LLC now owns 12,154 shares of the financial services provider’s stock worth $476,000 after acquiring an additional 340 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of research analyst reports. Morgan Stanley set a $53.00 target price on shares of Ally Financial and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Wells Fargo & Company upgraded shares of Ally Financial from a “hold” rating to an “overweight” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Ally Financial in a report on Tuesday, January 6th. Barclays lifted their target price on Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Finally, Weiss Ratings lowered Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.31.

Ally Financial Stock Performance

ALLY stock opened at $38.43 on Tuesday. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $47.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The firm has a market cap of $11.88 billion, a PE ratio of 16.35, a P/E/G ratio of 0.19 and a beta of 1.19. The business’s 50-day moving average price is $42.50 and its two-hundred day moving average price is $41.72.

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

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, February 2nd. Ally Financial’s dividend payout ratio is presently 51.06%.

Ally Financial declared that its board has initiated a share buyback program on Wednesday, December 10th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 15.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Ally Financial

In related news, CFO Russell E. Hutchinson acquired 11,566 shares of the stock in a transaction dated Tuesday, January 27th. The stock was bought at an average price of $43.17 per share, with a total value of $499,304.22. Following the completion of the transaction, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. The trade was a 5.41% 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 the SEC website. Also, CEO Michael George Rhodes acquired 23,800 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average price of $41.68 per share, for a total transaction of $991,984.00. Following the completion of the acquisition, the chief executive officer owned 49,434 shares of the company’s stock, valued at $2,060,409.12. This trade represents a 92.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.56% of the company’s stock.

About Ally Financial

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.