Wedge Capital Management L L P NC Has $39.70 Million Holdings in Ally Financial Inc. $ALLY

Wedge Capital Management L L P NC cut its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 21.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 876,551 shares of the financial services provider’s stock after selling 244,635 shares during the period. Wedge Capital Management L L P NC’s holdings in Ally Financial were worth $39,699,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank bought a new position in shares of Ally Financial during the 2nd quarter valued at about $95,897,000. Wellington Management Group LLP increased its stake in Ally Financial by 19.6% during the 3rd quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock worth $467,996,000 after purchasing an additional 1,958,201 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Ally Financial by 39.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider’s stock worth $210,352,000 after buying an additional 1,523,425 shares during the period. Marshall Wace LLP bought a new position in Ally Financial in the second quarter valued at approximately $51,661,000. Finally, Qube Research & Technologies Ltd lifted its stake in Ally Financial by 8,255.7% in the third quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock valued at $48,231,000 after buying an additional 1,215,659 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Insider Transactions at Ally Financial

In related news, CFO Russell E. Hutchinson purchased 11,566 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was purchased at an average cost of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the purchase, the chief financial officer directly owned 225,336 shares in the company, valued at $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael George Rhodes purchased 23,800 shares of the stock in a transaction on Friday, January 23rd. The shares were bought at an average cost of $41.68 per share, for a total transaction of $991,984.00. Following the transaction, the chief executive officer directly owned 49,434 shares in the company, valued at approximately $2,060,409.12. The trade was a 92.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.67% of the stock is currently owned by insiders.

Ally Financial Stock Performance

Shares of ALLY stock opened at $37.82 on Friday. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $47.27. The company’s fifty day simple moving average is $40.43 and its 200-day simple moving average is $41.40. The firm has a market cap of $11.65 billion, a PE ratio of 16.09, a P/E/G ratio of 0.20 and a beta of 1.18. 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 (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The firm 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 business earned $0.78 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts expect that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial announced that its board has approved a stock repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 15.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors 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 dividend on an annualized basis and a dividend yield of 3.2%. Ally Financial’s payout ratio is currently 51.06%.

Wall Street Analyst Weigh In

ALLY has been the subject of several research reports. Weiss Ratings downgraded shares of Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. BTIG Research reaffirmed a “neutral” rating on shares of Ally Financial in a research note on Tuesday, January 6th. Morgan Stanley set a $53.00 target price on Ally Financial and gave the stock an “overweight” rating in a report on Tuesday, December 16th. JPMorgan Chase & Co. lifted 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. Finally, TD Cowen reaffirmed a “buy” rating on shares of Ally Financial in a research report on Thursday, January 8th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.67.

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.