Tocqueville Asset Management L.P. Invests $17.61 Million in Ally Financial Inc. $ALLY

Tocqueville Asset Management L.P. purchased a new position in Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 383,311 shares of the financial services provider’s stock, valued at approximately $17,613,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in Ally Financial by 106.5% during the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after acquiring an additional 129,497 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Ally Financial by 22.8% in the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 415 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Ally Financial by 11.1% in the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 1,292 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Ally Financial in the 1st quarter valued at about $259,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Ally Financial by 374.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,166 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of research reports. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Bank of America upped their price objective on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Citigroup decreased their target price on Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Finally, Royal Bank Of Canada boosted their price target on Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.64.

Ally Financial Trading Down 1.1%

NYSE ALLY opened at $43.15 on Thursday. Ally Financial Inc. has a one year low of $35.92 and a one year high of $47.29. The company has a 50-day simple moving average of $44.87 and a 200-day simple moving average of $42.63. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $13.12 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. Ally Financial’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. On average, equities analysts forecast that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, July 31st. Ally Financial’s payout ratio is presently 28.30%.

Insider Activity at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the transaction, the insider directly owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

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.