US Bancorp DE decreased its position in shares of Ally Financial Inc. (NYSE:ALLY) by 17.0% during the second quarter, Holdings Channel reports. The institutional investor owned 48,490 shares of the financial services provider’s stock after selling 9,931 shares during the period. US Bancorp DE’s holdings in Ally Financial were worth $1,014,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. ProShare Advisors LLC raised its stake in Ally Financial by 6.8% in the first quarter. ProShare Advisors LLC now owns 70,632 shares of the financial services provider’s stock valued at $1,436,000 after buying an additional 4,476 shares during the period. Korea Investment CORP bought a new stake in Ally Financial during the first quarter valued at approximately $1,038,000. Candriam Luxembourg S.C.A. raised its stake in Ally Financial by 22.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 36,193 shares of the financial services provider’s stock valued at $736,000 after buying an additional 6,552 shares during the period. Northern Capital Management LLC bought a new stake in Ally Financial during the first quarter valued at approximately $1,760,000. Finally, State of Alaska Department of Revenue bought a new stake in Ally Financial during the first quarter valued at approximately $426,000.
Shares of Ally Financial Inc. (NYSE:ALLY) traded down 2.28% on Thursday, hitting $22.24. 1,143,444 shares of the company were exchanged. The firm’s 50-day moving average is $21.60 and its 200-day moving average is $20.77. The stock has a market capitalization of $10.67 billion, a PE ratio of 11.34 and a beta of 1.42. Ally Financial Inc. has a 52-week low of $16.68 and a 52-week high of $23.62.
Ally Financial (NYSE:ALLY) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. Ally Financial had a net margin of 13.83% and a return on equity of 7.55%. During the same period last year, the firm posted $0.54 EPS. Equities research analysts predict that Ally Financial Inc. will post $2.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from Ally Financial’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, July 28th. Ally Financial’s dividend payout ratio (DPR) is 24.49%.
Ally Financial declared that its board has approved a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Several brokerages recently weighed in on ALLY. BidaskClub raised shares of Ally Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $31.00 target price (up previously from $30.00) on shares of Ally Financial in a report on Sunday, July 30th. TheStreet raised shares of Ally Financial from a “c” rating to a “b-” rating in a report on Wednesday, July 19th. Piper Jaffray Companies began coverage on shares of Ally Financial in a report on Friday, June 9th. They issued an “overweight” rating and a $25.00 target price for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $24.00 target price on shares of Ally Financial in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $25.07.
Ally Financial Company Profile
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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