Oppenheimer Asset Management Inc. Purchases 13,887 Shares of Ally Financial Inc. $ALLY

Oppenheimer Asset Management Inc. raised its position in shares of Ally Financial Inc. (NYSE:ALLY) by 13.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,288 shares of the financial services provider’s stock after buying an additional 13,887 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ally Financial were worth $4,480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALLY. Allworth Financial LP lifted its position in Ally Financial by 385.2% during the second quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 597 shares during the last quarter. Mather Group LLC. purchased a new position in Ally Financial in the third quarter worth $31,000. Hantz Financial Services Inc. grew its holdings in Ally Financial by 662.0% in the second quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 715 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of Ally Financial by 116.8% during the second quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 451 shares in the last quarter. Finally, MAI Capital Management lifted its holdings in shares of Ally Financial by 45.1% during the 2nd quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLY has been the topic of several research analyst reports. Morgan Stanley set a $53.00 target price on Ally Financial and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Wells Fargo & Company upgraded Ally Financial from a “hold” rating to an “overweight” rating in a research note on Wednesday, December 17th. Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $52.00 target price on shares of Ally Financial in a research note on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.31.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, CFO Russell E. Hutchinson purchased 11,566 shares of the stock in a transaction on Tuesday, January 27th. The shares were bought 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 owned 225,336 shares in the company, valued at $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael George Rhodes acquired 23,800 shares of Ally Financial stock in a transaction on Friday, January 23rd. The shares were bought at an average price of $41.68 per share, with a total value of $991,984.00. Following the purchase, the chief executive officer directly owned 49,434 shares in the company, valued at approximately $2,060,409.12. The trade was a 92.85% increase in their position. The SEC filing for this purchase provides additional information. 0.67% of the stock is currently owned by corporate insiders.

Ally Financial Trading Down 1.7%

Ally Financial stock opened at $41.65 on Thursday. The stock has a 50-day moving average price of $44.05 and a 200 day moving average price of $41.38. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.22 and a beta of 1.19. 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.

Ally Financial (NYSE:ALLY) last posted its quarterly 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 net margin of 10.77% and a return on equity of 10.40%. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the firm posted $0.78 EPS. Ally Financial’s revenue for the quarter was up 4.8% compared to the same quarter last year. Sell-side analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be given a dividend of $0.30 per share. The ex-dividend date is Monday, February 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Ally Financial’s payout ratio is currently 51.06%.

Ally Financial announced that its board has approved a stock buyback program 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 programs are often an indication that the company’s management believes its stock is undervalued.

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.