Russell Investments Group Ltd. Purchases 95,149 Shares of Ally Financial Inc. $ALLY

Russell Investments Group Ltd. boosted its position in shares of Ally Financial Inc. (NYSE:ALLY) by 10.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,010,292 shares of the financial services provider’s stock after buying an additional 95,149 shares during the period. Russell Investments Group Ltd.’s holdings in Ally Financial were worth $39,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in shares of Ally Financial by 385.2% during the 2nd quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 597 shares during the period. Mather Group LLC. bought a new position in Ally Financial in the third quarter valued at approximately $31,000. MAI Capital Management increased its stake in Ally Financial by 45.1% in the second quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 303 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Ally Financial by 98.7% during the third quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 552 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Ally Financial by 33.5% during the third quarter. Bessemer Group Inc. now owns 1,234 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 310 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael George Rhodes bought 23,800 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was acquired at an average price of $41.68 per share, with a total value of $991,984.00. Following the transaction, the chief executive officer 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Russell E. Hutchinson purchased 11,566 shares of the stock in a transaction on Tuesday, January 27th. The shares were purchased at an average price of $43.17 per share, with a total value of $499,304.22. Following 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. 0.67% of the stock is owned by insiders.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $36.82 on Thursday. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 0.19 and a beta of 1.18. Ally Financial Inc. has a twelve month low of $29.52 and a twelve month high of $47.27. The company’s fifty day moving average is $42.16 and its 200 day moving average is $41.66. 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 announced its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.Ally Financial’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. Sell-side analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial announced that its board has authorized a stock buyback program on Wednesday, December 10th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 15.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, February 2nd. Ally Financial’s dividend payout ratio (DPR) is 51.06%.

Analysts Set New Price Targets

ALLY has been the topic of a number of research analyst reports. Barclays raised their target price on Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price target on shares of Ally Financial in a report on Tuesday, January 6th. Royal Bank Of Canada restated an “outperform” rating and set a $52.00 price objective on shares of Ally Financial in a research report on Monday, January 12th. Morgan Stanley set a $53.00 target price on Ally Financial and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. boosted their target price on Ally Financial from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.31.

About Ally Financial

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.