Illinois Municipal Retirement Fund Acquires 36,663 Shares of Ally Financial Inc. (NYSE:ALLY)

Illinois Municipal Retirement Fund raised its holdings in Ally Financial Inc. (NYSE:ALLY) by 42.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,970 shares of the financial services provider’s stock after buying an additional 36,663 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Ally Financial were worth $4,294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ancient Art L.P. bought a new stake in shares of Ally Financial in the 3rd quarter worth about $41,429,000. Bank of New York Mellon Corp grew its holdings in Ally Financial by 47.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,620,655 shares of the financial services provider’s stock worth $96,599,000 after acquiring an additional 1,165,220 shares during the last quarter. FMR LLC grew its holdings in Ally Financial by 47.1% during the 3rd quarter. FMR LLC now owns 3,316,501 shares of the financial services provider’s stock worth $88,484,000 after acquiring an additional 1,061,651 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Ally Financial by 4,867.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,001,294 shares of the financial services provider’s stock worth $26,715,000 after acquiring an additional 981,138 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Ally Financial during the 4th quarter worth about $27,975,000. Institutional investors own 88.76% of the company’s stock.

Ally Financial Price Performance

Shares of ALLY opened at $39.76 on Thursday. The stock has a market capitalization of $12.09 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.58 and a beta of 1.40. Ally Financial Inc. has a twelve month low of $22.54 and a twelve month high of $41.56. The company has a 50 day moving average of $37.92 and a 200-day moving average of $33.28. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.50.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $0.82 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Ally Financial Inc. will post 2.95 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.30 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.02%. Ally Financial’s dividend payout ratio is presently 48.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ALLY shares. Bank of America raised shares of Ally Financial from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. downgraded shares of Ally Financial from a “neutral” rating to an “underweight” rating and upped their target price for the company from $37.00 to $39.00 in a research report on Wednesday, April 3rd. Morgan Stanley upgraded shares of Ally Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $37.00 to $47.00 in a research report on Thursday, February 8th. TheStreet upgraded shares of Ally Financial from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, BMO Capital Markets upped their target price on shares of Ally Financial from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday, April 19th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.47.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.