Gabelli Funds LLC Has $5.63 Million Holdings in Ally Financial Inc. $ALLY

Gabelli Funds LLC raised its position in shares of Ally Financial Inc. (NYSE:ALLY) by 256.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,460 shares of the financial services provider’s stock after acquiring an additional 103,250 shares during the period. Gabelli Funds LLC’s holdings in Ally Financial were worth $5,628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ally Financial during the fourth quarter worth approximately $29,000. Fideuram Asset Management Ireland dac acquired a new stake in Ally Financial during the 4th quarter worth approximately $35,000. Safe Harbor Fiduciary LLC bought a new stake in Ally Financial in the 4th quarter valued at $37,000. Harvest Fund Management Co. Ltd bought a new stake in Ally Financial in the 4th quarter valued at $38,000. Finally, SJS Investment Consulting Inc. grew its holdings in Ally Financial by 30.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock valued at $40,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the sale, the insider directly owned 93,927 shares in the company, valued at $3,958,083.78. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Ally Financial Price Performance

Ally Financial stock opened at $43.67 on Tuesday. The firm has a market cap of $13.39 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 0.27 and a beta of 1.09. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s fifty day moving average price is $44.33 and its two-hundred day moving average price is $42.57. Ally Financial Inc. has a one year low of $35.92 and a one year high of $47.29.

Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, research analysts expect that Ally Financial Inc. will post 5.19 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 2.7%. Ally Financial’s dividend payout ratio is currently 28.30%.

Analyst Upgrades and Downgrades

ALLY has been the topic of several recent research reports. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Evercore restated an “outperform” rating and issued a $54.00 price target on shares of Ally Financial in a research note on Tuesday, April 21st. Bank of America raised their price target on shares of Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Royal Bank Of Canada raised their price target on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.86.

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.