Ally Financial Inc. $ALLY Shares Acquired by Prana Capital Management LP

Prana Capital Management LP lifted its position in Ally Financial Inc. (NYSE:ALLY) by 177.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,762 shares of the financial services provider’s stock after acquiring an additional 114,305 shares during the period. Prana Capital Management LP owned about 0.06% of Ally Financial worth $7,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ALLY. Chung Wu Investment Group LLC increased its stake in shares of Ally Financial by 224.1% in the third quarter. Chung Wu Investment Group LLC now owns 38,890 shares of the financial services provider’s stock worth $1,524,000 after acquiring an additional 26,890 shares during the last quarter. Norges Bank acquired a new position in Ally Financial in the 2nd quarter valued at $95,897,000. Charles Schwab Investment Management Inc. raised its holdings in Ally Financial by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,384,980 shares of the financial services provider’s stock worth $92,895,000 after acquiring an additional 72,444 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Ally Financial during the 3rd quarter worth $1,194,000. Finally, Principal Financial Group Inc. increased its stake in Ally Financial by 7.5% during the third quarter. Principal Financial Group Inc. now owns 674,471 shares of the financial services provider’s stock valued at $26,439,000 after acquiring an additional 47,184 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Trading Up 3.9%

Shares of Ally Financial stock opened at $37.36 on Wednesday. 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 12-month low of $29.52 and a 12-month high of $47.27. The company has a market capitalization of $11.55 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.18 and a beta of 1.19. The firm’s 50-day moving average price is $41.40 and its two-hundred day moving average price is $41.55.

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

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

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.20 annualized dividend and a yield of 3.2%. Ally Financial’s payout ratio is currently 51.06%.

Insider Buying and Selling at Ally Financial

In other news, CEO Michael George Rhodes bought 23,800 shares of the stock in a transaction on Friday, January 23rd. The shares were acquired at an average cost of $41.68 per share, for a total transaction of $991,984.00. Following the purchase, the chief executive officer directly owned 49,434 shares of the company’s stock, valued at $2,060,409.12. This trade represents a 92.85% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Russell E. Hutchinson acquired 11,566 shares of the stock in a transaction dated Tuesday, January 27th. The stock was acquired at an average price of $43.17 per share, with a total value of $499,304.22. Following the completion of 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. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALLY. Barclays lifted their target price on shares of Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. upped their price target on Ally Financial from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. UBS Group set a $48.00 target price on shares of Ally Financial in a report on Monday, January 12th. Weiss Ratings cut shares of Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Finally, Wells Fargo & Company raised Ally Financial from a “hold” rating to an “overweight” rating in a report on Wednesday, December 17th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.31.

Ally Financial Company 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.