National Pension Service raised its stake in shares of Ally Financial Inc (NYSE:ALLY) by 5.2% in the third quarter, Holdings Channel.com reports. The fund owned 715,432 shares of the financial services provider’s stock after purchasing an additional 35,631 shares during the period. National Pension Service’s holdings in Ally Financial were worth $23,724,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in ALLY. Usca Ria LLC acquired a new position in Ally Financial during the 3rd quarter worth approximately $32,000. Liberty Wealth Management LLC acquired a new stake in shares of Ally Financial during the third quarter worth approximately $37,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Ally Financial during the second quarter worth approximately $49,000. SG3 Management LLC acquired a new stake in shares of Ally Financial during the second quarter worth approximately $73,000. Finally, Parallel Advisors LLC grew its position in shares of Ally Financial by 28.2% during the third quarter. Parallel Advisors LLC now owns 2,507 shares of the financial services provider’s stock worth $83,000 after buying an additional 551 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.
In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $30.90, for a total value of $68,659.80. Following the sale, the chief accounting officer now directly owns 96,869 shares in the company, valued at $2,993,252.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 6,666 shares of company stock worth $212,134 over the last quarter. 0.35% of the stock is currently owned by company insiders.
Ally Financial (NYSE:ALLY) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.03. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Ally Financial had a return on equity of 10.69% and a net margin of 26.29%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. As a group, analysts predict that Ally Financial Inc will post 3.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, October 31st. Ally Financial’s payout ratio is 20.36%.
A number of analysts have recently weighed in on ALLY shares. Piper Jaffray Companies set a $41.00 price target on shares of Ally Financial and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. cut Ally Financial from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $35.00 to $33.00 in a research note on Tuesday, October 8th. Citigroup reduced their price objective on Ally Financial from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Barclays raised their price objective on Ally Financial from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Finally, Stephens upgraded Ally Financial from an “equal” rating to a “weight” rating and raised their price objective for the stock from $37.00 to $44.00 in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.58.
Ally Financial Company Profile
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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