Algert Global LLC Grows Stake in Ally Financial Inc. $ALLY

Algert Global LLC boosted its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 62.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 461,846 shares of the financial services provider’s stock after acquiring an additional 176,720 shares during the quarter. Algert Global LLC owned about 0.15% of Ally Financial worth $18,104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Ally Financial by 19.6% during the third quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock valued at $467,996,000 after buying an additional 1,958,201 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ally Financial by 4.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,626,748 shares of the financial services provider’s stock worth $220,569,000 after buying an additional 226,188 shares during the period. Bank of America Corp DE lifted its stake in shares of Ally Financial by 38.9% during the 2nd quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock worth $146,888,000 after acquiring an additional 1,056,060 shares during the last quarter. Norges Bank bought a new stake in shares of Ally Financial during the 2nd quarter worth approximately $95,897,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Ally Financial by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,384,980 shares of the financial services provider’s stock valued at $92,895,000 after acquiring an additional 72,444 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Performance

Shares of NYSE:ALLY opened at $36.16 on Friday. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.18 and a beta of 1.18. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $47.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $41.80 and a 200 day moving average of $41.60.

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, beating 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 for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, sell-side analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were paid 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 is 51.06%.

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

Wall Street Analyst Weigh In

ALLY has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded Ally Financial from a “hold” rating to an “overweight” rating in a research note on Wednesday, December 17th. JPMorgan Chase & Co. boosted their target price on shares of Ally Financial from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. UBS Group set a $48.00 price target on shares of Ally Financial in a research note on Monday, January 12th. Evercore decreased their price objective on shares of Ally Financial from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Finally, Barclays boosted their price objective on shares of Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.31.

Insider Transactions at Ally Financial

In other news, CEO Michael George Rhodes purchased 23,800 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was acquired at an average cost of $41.68 per share, with a total value of $991,984.00. Following the completion of the transaction, the chief executive officer owned 49,434 shares in the company, valued at $2,060,409.12. This represents a 92.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Russell E. Hutchinson bought 11,566 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were purchased at an average cost of $43.17 per share, with a total value of $499,304.22. Following the transaction, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at $9,727,755.12. The trade was a 5.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.67% of the stock is owned by company 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.