975,205 Shares in Ally Financial Inc. $ALLY Acquired by Goldentree Asset Management LP

Goldentree Asset Management LP acquired a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 975,205 shares of the financial services provider’s stock, valued at approximately $38,155,000. Ally Financial makes up about 3.2% of Goldentree Asset Management LP’s portfolio, making the stock its 14th biggest position. Goldentree Asset Management LP owned approximately 0.32% of Ally Financial at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ALLY. Prana Capital Management LP increased its stake in shares of Ally Financial by 177.3% during the 3rd quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider’s stock worth $7,007,000 after purchasing an additional 114,305 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of Ally Financial in the 3rd quarter valued at $45,733,000. Advisory Services Network LLC lifted its stake in shares of Ally Financial by 50.4% in the 3rd quarter. Advisory Services Network LLC now owns 9,822 shares of the financial services provider’s stock valued at $385,000 after purchasing an additional 3,292 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Ally Financial by 3.7% in the third quarter. Kestra Private Wealth Services LLC now owns 223,096 shares of the financial services provider’s stock worth $8,745,000 after purchasing an additional 7,903 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Ally Financial by 1.6% in the third quarter. CANADA LIFE ASSURANCE Co now owns 212,193 shares of the financial services provider’s stock worth $8,456,000 after purchasing an additional 3,408 shares in the last quarter. 88.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALLY has been the topic of several recent research 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. Royal Bank Of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Ally Financial in a research note on Monday, January 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price objective on shares of Ally Financial in a research note on Tuesday, January 6th. 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 report on Monday, January 12th. Finally, Evercore decreased their target price on Ally Financial from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Thursday, February 5th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.31.

Ally Financial Trading Up 0.6%

Shares of NYSE:ALLY opened at $37.59 on Thursday. The company has a market cap of $11.62 billion, a P/E ratio of 15.99, a P/E/G ratio of 0.19 and a beta of 1.18. The stock’s 50-day moving average is $41.22 and its 200-day moving average is $41.52. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $47.27. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.30 per share. The ex-dividend date was Monday, February 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. Ally Financial’s payout ratio is 51.06%.

Ally Financial declared that its Board of Directors has approved a share buyback plan on Wednesday, December 10th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 15.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Russell E. Hutchinson bought 11,566 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was purchased at an average cost of $43.17 per share, for a total transaction of $499,304.22. Following the purchase, the chief financial officer directly owned 225,336 shares in the company, valued at $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rhodes bought 23,800 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average price of $41.68 per share, with a total value of $991,984.00. Following the completion of the purchase, the chief executive officer owned 49,434 shares in the company, valued at approximately $2,060,409.12. The trade was a 92.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.67% of the stock is owned by insiders.

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.