The Manufacturers Life Insurance Company Buys Shares of 204,093 Ally Financial Inc. $ALLY

The Manufacturers Life Insurance Company purchased a new position in Ally Financial Inc. (NYSE:ALLY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 204,093 shares of the financial services provider’s stock, valued at approximately $9,378,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Ally Financial at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ALLY. Tocqueville Asset Management L.P. acquired a new position in shares of Ally Financial in the second quarter valued at approximately $17,613,000. State of Wyoming acquired a new stake in shares of Ally Financial during the second quarter worth $3,195,000. Intech Investment Management LLC acquired a new stake in shares of Ally Financial during the fourth quarter worth $3,926,000. Geode Capital Management LLC lifted its position in Ally Financial by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider’s stock valued at $243,795,000 after acquiring an additional 241,000 shares in the last quarter. Finally, Qsemble Capital Management LP lifted its position in Ally Financial by 136.0% in the 4th quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider’s stock valued at $7,235,000 after acquiring an additional 92,043 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Insider Activity at Ally Financial

In related news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the transaction, the insider directly owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

ALLY has been the subject of a number of research reports. Citigroup lowered their target price on Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Wells Fargo & Company upped their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Royal Bank Of Canada boosted their target price on Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Ally Financial currently has an average rating of “Moderate Buy” and a consensus target price of $53.64.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $42.20 on Friday. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.26 and a beta of 1.10. The business has a 50-day moving average of $44.52 and a 200-day moving average of $42.63. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week 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 (EPS) for the quarter, missing the consensus estimate 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 return on equity of 11.75% and a net margin of 16.75%.The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, sell-side analysts predict that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, July 31st. Ally Financial’s dividend payout ratio is presently 28.30%.

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.