Oaktree Capital Management LP reduced its holdings in Ally Financial Inc (NYSE:ALLY) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,712,400 shares of the financial services provider’s stock after selling 1,047,600 shares during the quarter. Ally Financial comprises 3.8% of Oaktree Capital Management LP’s holdings, making the stock its 5th largest holding. Oaktree Capital Management LP owned 2.03% of Ally Financial worth $236,543,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Signaturefd LLC bought a new stake in Ally Financial in the first quarter worth approximately $109,000. Meeder Asset Management Inc. bought a new stake in Ally Financial in the fourth quarter worth approximately $140,000. Focused Wealth Management Inc bought a new stake in Ally Financial in the first quarter worth approximately $163,000. IBM Retirement Fund bought a new stake in Ally Financial in the fourth quarter worth approximately $204,000. Finally, Commonwealth Equity Services LLC bought a new stake in Ally Financial in the first quarter worth approximately $223,000. Institutional investors and hedge funds own 97.94% of the company’s stock.
ALLY has been the subject of a number of research analyst reports. ValuEngine downgraded Ally Financial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 1st. Oppenheimer set a $38.00 target price on Ally Financial and gave the stock a “buy” rating in a report on Monday, April 2nd. UBS Group initiated coverage on Ally Financial in a research note on Tuesday, March 27th. They issued a “buy” rating and a $33.00 price objective for the company. Piper Jaffray Companies reissued a “buy” rating on shares of Ally Financial in a research note on Friday, March 16th. Finally, Stephens raised Ally Financial from an “underweight” rating to an “equal” rating and set a $29.00 price objective for the company in a research note on Monday, April 9th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.32.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, April 26th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Ally Financial had a return on equity of 8.71% and a net margin of 14.20%. During the same quarter in the previous year, the firm earned $0.48 earnings per share. research analysts predict that Ally Financial Inc will post 2.97 earnings per share for the current fiscal year.
Ally Financial Profile
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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