Arizona State Retirement System grew its stake in Ally Financial Inc (NYSE:ALLY) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,478 shares of the financial services provider’s stock after purchasing an additional 4,659 shares during the period. Arizona State Retirement System’s holdings in Ally Financial were worth $5,356,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Greenleaf Trust boosted its position in Ally Financial by 8.5% in the 3rd quarter. Greenleaf Trust now owns 229,425 shares of the financial services provider’s stock worth $6,068,000 after purchasing an additional 17,930 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Ally Financial in the 3rd quarter worth approximately $397,000. NN Investment Partners Holdings N.V. boosted its position in Ally Financial by 9.0% in the 3rd quarter. NN Investment Partners Holdings N.V. now owns 72,228 shares of the financial services provider’s stock worth $1,910,000 after purchasing an additional 5,987 shares in the last quarter. James Investment Research Inc. boosted its position in Ally Financial by 4.2% in the 3rd quarter. James Investment Research Inc. now owns 79,755 shares of the financial services provider’s stock worth $2,109,000 after purchasing an additional 3,180 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Ally Financial by 7.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,565,912 shares of the financial services provider’s stock worth $41,581,000 after purchasing an additional 105,557 shares in the last quarter. Institutional investors and hedge funds own 98.73% of the company’s stock.
Several equities research analysts have commented on ALLY shares. Zacks Investment Research lowered Ally Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Oppenheimer set a $35.00 price objective on Ally Financial and gave the stock a “buy” rating in a research report on Thursday, October 4th. Bank of America upgraded Ally Financial from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $33.00 to $35.00 in a research report on Monday, July 30th. Stephens restated a “hold” rating and issued a $32.00 price objective on shares of Ally Financial in a research report on Friday, July 27th. Finally, Piper Jaffray Companies set a $34.00 price objective on Ally Financial and gave the stock a “buy” rating in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $32.72.
Shares of NYSE:ALLY opened at $25.91 on Wednesday. Ally Financial Inc has a 1 year low of $23.69 and a 1 year high of $31.29. The company has a market cap of $10.65 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.61 and a beta of 1.23. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.18 and a current ratio of 1.18.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. Ally Financial had a return on equity of 10.25% and a net margin of 16.87%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Sell-side analysts expect that Ally Financial Inc will post 3.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, October 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.32%. Ally Financial’s dividend payout ratio (DPR) is 25.10%.
Ally Financial Company Profile
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
Further Reading: Reverse Stock Split
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