Private Management Group Inc. Reduces Position in Ally Financial Inc. $ALLY

Private Management Group Inc. decreased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 727,926 shares of the financial services provider’s stock after selling 15,490 shares during the period. Private Management Group Inc. owned about 0.24% of Ally Financial worth $28,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors 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 purchasing an additional 597 shares in the last quarter. Mather Group LLC. bought a new stake in Ally Financial during the third quarter valued at about $31,000. MAI Capital Management increased its position in Ally Financial by 45.1% in the second quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock worth $38,000 after buying an additional 303 shares in the last quarter. Smartleaf Asset Management LLC increased its position 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 buying an additional 552 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Ally Financial by 33.5% in the third quarter. Bessemer Group Inc. now owns 1,234 shares of the financial services provider’s stock worth $49,000 after buying an additional 310 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ALLY. BTIG Research reaffirmed a “neutral” rating on shares of Ally Financial in a research report on Tuesday, January 6th. TD Cowen reissued a “buy” rating on shares of Ally Financial in a report on Thursday, January 8th. Morgan Stanley set a $53.00 price target on shares of Ally Financial and gave the company an “overweight” rating in a report on Tuesday, December 16th. JPMorgan Chase & Co. upped their price target on shares of Ally Financial from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, January 12th. 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 equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Ally Financial presently has a consensus rating of “Moderate Buy” and an average target price of $50.31.

Ally Financial Stock Performance

NYSE ALLY opened at $36.16 on Friday. 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 Inc. has a twelve month low of $29.52 and a twelve month high of $47.27. The business has a 50-day moving average price of $41.80 and a 200-day moving average price of $41.60. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.19 and a beta of 1.18.

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, beating the consensus estimate 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 the consensus estimate of $2.15 billion. During the same quarter last year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a dividend of $0.30 per share. The ex-dividend date was Monday, February 2nd. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. Ally Financial’s dividend payout ratio (DPR) is presently 51.06%.

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

Insider Buying and Selling at Ally Financial

In related news, CFO Russell E. Hutchinson bought 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 completion of the purchase, the chief financial officer 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael George Rhodes purchased 23,800 shares of Ally Financial stock in a transaction on Friday, January 23rd. The stock was bought at an average price of $41.68 per share, for a total transaction of $991,984.00. Following the completion of the acquisition, the chief executive officer owned 49,434 shares in the company, valued at $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 insiders.

About Ally Financial

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.