Econ Financial Services Corp Buys New Shares in Ally Financial Inc. $ALLY

Econ Financial Services Corp purchased a new position in shares of Ally Financial Inc. (NYSE:ALLY) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 17,144 shares of the financial services provider’s stock, valued at approximately $776,000.

Several other hedge funds have also recently made changes to their positions in the business. Mather Group LLC. acquired a new position in shares of Ally Financial in the 3rd quarter valued at about $31,000. Larson Financial Group LLC grew its stake in Ally Financial by 67.0% during the third quarter. Larson Financial Group LLC now owns 1,072 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 430 shares during the period. Smartleaf Asset Management LLC increased its holdings in Ally Financial by 98.7% in the third quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 552 shares in the last quarter. Allworth Financial LP increased its holdings in Ally Financial by 53.5% in the third quarter. Allworth Financial LP now owns 1,154 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 402 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Ally Financial by 33.5% in the third quarter. Bessemer Group Inc. now owns 1,234 shares of the financial services provider’s stock valued at $49,000 after buying an additional 310 shares during the period. 88.76% of the stock is owned by institutional investors.

Insider Transactions at Ally Financial

In other Ally Financial news, CFO Russell E. Hutchinson purchased 11,566 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were acquired at an average price of $43.17 per share, with a total value of $499,304.22. Following the transaction, the chief financial officer owned 225,336 shares in the company, valued at $9,727,755.12. The trade was a 5.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael George Rhodes purchased 23,800 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average cost of $41.68 per share, for a total transaction of $991,984.00. Following 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. Additional details regarding this purchase are available in the official SEC disclosure. 0.46% of the stock is owned by company insiders.

Ally Financial Trading Up 3.5%

Shares of Ally Financial stock opened at $39.23 on Wednesday. The stock has a market capitalization of $12.08 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 0.19 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 stock has a 50 day moving average price of $40.25 and a two-hundred day moving average price of $41.35. 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 issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the business earned $0.78 EPS. Ally Financial’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

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

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, February 2nd. Ally Financial’s dividend payout ratio (DPR) is 51.06%.

Analyst Upgrades and Downgrades

ALLY has been the topic of a number of research analyst reports. Evercore cut their price target on Ally Financial from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 price objective on shares of Ally Financial in a research note on Tuesday, January 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Ally Financial in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Ally Financial from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company raised shares of Ally Financial from a “hold” rating to an “overweight” rating in a research note on Wednesday, December 17th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Ally Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

Ally Financial 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.