BNP Paribas Arbitrage SA Purchases 474,071 Shares of Ally Financial Inc. (NYSE:ALLY)

BNP Paribas Arbitrage SA grew its position in Ally Financial Inc. (NYSE:ALLY) by 92.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 989,458 shares of the financial services provider’s stock after buying an additional 474,071 shares during the period. BNP Paribas Arbitrage SA’s holdings in Ally Financial were worth $49,315,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ALLY. Wealthcare Advisory Partners LLC acquired a new stake in Ally Financial in the 1st quarter worth approximately $25,000. NEXT Financial Group Inc boosted its stake in Ally Financial by 123.8% in the 2nd quarter. NEXT Financial Group Inc now owns 611 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 338 shares in the last quarter. Concord Wealth Partners acquired a new stake in Ally Financial in the 1st quarter worth approximately $29,000. Van ECK Associates Corp boosted its stake in Ally Financial by 134.7% in the 2nd quarter. Van ECK Associates Corp now owns 676 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 388 shares in the last quarter. Finally, PNC Managed Account Solutions Inc. acquired a new stake in Ally Financial in the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 92.48% of the company’s stock.

Ally Financial stock opened at $51.74 on Wednesday. Ally Financial Inc. has a fifty-two week low of $22.81 and a fifty-two week high of $56.61. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50 day moving average price of $51.69 and a 200 day moving average price of $50.35. The company has a market capitalization of $18.65 billion, a PE ratio of 6.81 and a beta of 1.60.

Ally Financial (NYSE:ALLY) last issued its earnings results on Monday, July 19th. The financial services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.88. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $1.88 billion. Ally Financial had a net margin of 37.19% and a return on equity of 18.66%. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, equities research analysts forecast that Ally Financial Inc. will post 8.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Monday, August 2nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, July 30th. This is a positive change from Ally Financial’s previous quarterly dividend of $0.19. Ally Financial’s dividend payout ratio (DPR) is 33.00%.

In other Ally Financial news, insider Jason E. Schugel sold 2,500 shares of Ally Financial stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $51.81, for a total transaction of $129,525.00. Following the transaction, the insider now owns 141,022 shares of the company’s stock, valued at $7,306,349.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jennifer A. Laclair sold 3,333 shares of the business’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $50.00, for a total value of $166,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 39,958 shares of company stock worth $2,088,983 in the last three months. Corporate insiders own 0.46% of the company’s stock.

A number of analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Ally Financial from $64.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Barclays lifted their price objective on shares of Ally Financial from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, July 21st. Zacks Investment Research cut shares of Ally Financial from a “strong-buy” rating to a “hold” rating and set a $56.00 price objective for the company. in a research note on Thursday, May 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Ally Financial from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 21st. Finally, Citigroup lifted their price objective on shares of Ally Financial from $59.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, July 22nd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $55.06.

About Ally Financial

Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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