GW&K Investment Management LLC Increases Position in Ally Financial Inc. $ALLY

GW&K Investment Management LLC lifted its position in Ally Financial Inc. (NYSE:ALLY) by 27.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 824,736 shares of the financial services provider’s stock after acquiring an additional 175,186 shares during the period. GW&K Investment Management LLC owned 0.27% of Ally Financial worth $32,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC lifted its holdings in shares of Ally Financial by 224.1% during the third quarter. Chung Wu Investment Group LLC now owns 38,890 shares of the financial services provider’s stock worth $1,524,000 after purchasing an additional 26,890 shares during the period. Norges Bank acquired a new position in Ally Financial in the 2nd quarter worth approximately $95,897,000. Charles Schwab Investment Management Inc. raised its position 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 worth $92,895,000 after buying an additional 72,444 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Ally Financial by 535.4% during the 2nd quarter. Acadian Asset Management LLC now owns 933,988 shares of the financial services provider’s stock valued at $36,372,000 after acquiring an additional 786,985 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings 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 acquiring an additional 47,184 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Insider Activity at Ally Financial

In related news, CEO Michael George Rhodes purchased 23,800 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average price of $41.68 per share, with a total value of $991,984.00. Following the purchase, the chief executive officer owned 49,434 shares of the company’s stock, valued at $2,060,409.12. The trade was a 92.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Russell E. Hutchinson purchased 11,566 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was bought at an average cost of $43.17 per share, with a total value of $499,304.22. Following the acquisition, the chief financial officer owned 225,336 shares in the company, valued at $9,727,755.12. This represents a 5.41% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.67% of the company’s stock.

Ally Financial Trading Down 1.2%

Shares of Ally Financial stock opened at $39.94 on Friday. The firm has a 50-day simple moving average of $42.81 and a two-hundred day simple moving average of $41.67. 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 Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $47.27. The company has a market cap of $12.35 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.18.

Ally Financial (NYSE:ALLY) last posted its 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 company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. As a group, equities analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a $0.30 dividend. The ex-dividend date was Monday, February 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. Ally Financial’s payout ratio is 51.06%.

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BTIG Research reissued a “neutral” rating on shares of Ally Financial in a report on Tuesday, January 6th. Wells Fargo & Company raised shares of Ally Financial from a “hold” rating to an “overweight” rating in a report on Wednesday, December 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price objective on shares of Ally Financial in a research note on Tuesday, January 6th. JPMorgan Chase & Co. boosted their price objective on Ally Financial from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Finally, 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. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.31.

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.