Ally Financial Inc. $ALLY Shares Purchased by Barclays PLC

Barclays PLC grew its position in Ally Financial Inc. (NYSE:ALLY) by 89.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 570,720 shares of the financial services provider’s stock after acquiring an additional 269,454 shares during the quarter. Barclays PLC owned approximately 0.19% of Ally Financial worth $22,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ALLY. Chung Wu Investment Group LLC lifted its position in Ally Financial by 224.1% in the 3rd quarter. Chung Wu Investment Group LLC now owns 38,890 shares of the financial services provider’s stock worth $1,524,000 after buying an additional 26,890 shares in the last quarter. Norges Bank acquired a new stake in shares of Ally Financial in the second quarter worth $95,897,000. Charles Schwab Investment Management Inc. increased its stake in Ally Financial by 3.1% during the second 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. Principal Financial Group Inc. raised its stake in shares of Ally Financial by 7.5% in the 3rd quarter. Principal Financial Group Inc. now owns 674,471 shares of the financial services provider’s stock valued at $26,439,000 after buying an additional 47,184 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Ally Financial by 30.9% during the 3rd quarter. American Century Companies Inc. now owns 2,251,925 shares of the financial services provider’s stock worth $88,276,000 after buying an additional 531,269 shares during the period. Institutional investors own 88.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ALLY shares. Wells Fargo & Company raised Ally Financial from a “hold” rating to an “overweight” rating in a report on Wednesday, December 17th. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price objective on shares of Ally Financial in a research report on Tuesday, January 6th. JPMorgan Chase & Co. lifted their price objective on shares of Ally Financial from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Evercore reduced their price objective on Ally Financial from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $52.00 price target on shares of Ally Financial in a research note on Monday, January 12th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.31.

Insider Activity at Ally Financial

In related news, CEO Michael George Rhodes acquired 23,800 shares of Ally Financial stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average price of $41.68 per share, with a total value of $991,984.00. Following the transaction, the chief executive officer directly owned 49,434 shares in the company, valued at approximately $2,060,409.12. This represents a 92.85% increase in their ownership of the stock. The acquisition 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 on Tuesday, January 27th. The stock was purchased at an average cost of $43.17 per share, with a total value of $499,304.22. Following the completion of the acquisition, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. The trade was a 5.41% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.67% of the stock is currently owned by company insiders.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $36.82 on Thursday. The firm has a market capitalization of $11.38 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 0.19 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The business’s fifty day simple moving average is $42.16 and its 200 day simple moving average is $41.66. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $47.27.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders 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 of this dividend was Monday, February 2nd. Ally Financial’s dividend payout ratio is 51.06%.

Ally Financial declared that its Board of Directors has authorized a share repurchase program on Wednesday, December 10th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 15.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.