Maverick Capital Ltd. lessened its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 25.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,062 shares of the financial services provider’s stock after selling 10,050 shares during the quarter. Maverick Capital Ltd.’s holdings in Ally Financial were worth $1,314,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Davidson Kempner Capital Management LP acquired a new position in shares of Ally Financial during the 1st quarter valued at about $18,265,000. Renasant Bank boosted its position in shares of Ally Financial by 15.3% during the 1st quarter. Renasant Bank now owns 9,900 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 1,317 shares during the last quarter. Point72 Europe London LLP acquired a new position in shares of Ally Financial during the 1st quarter valued at about $2,934,000. Glenmede Trust Co. NA boosted its position in shares of Ally Financial by 67.1% during the 1st quarter. Glenmede Trust Co. NA now owns 187,039 shares of the financial services provider’s stock valued at $8,456,000 after acquiring an additional 75,092 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Ally Financial during the 1st quarter valued at about $828,000. 94.08% of the stock is currently owned by institutional investors.
Shares of NYSE:ALLY opened at $52.52 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $19.47 billion, a price-to-earnings ratio of 6.91 and a beta of 1.59. The stock’s 50-day simple moving average is $52.23. Ally Financial Inc. has a 1 year low of $19.86 and a 1 year high of $56.61.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Monday, August 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 30th. This is a positive change from Ally Financial’s previous quarterly dividend of $0.19. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Ally Financial’s dividend payout ratio is 25.08%.
Several brokerages have recently weighed in on ALLY. Barclays boosted their price target on shares of Ally Financial from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Ally Financial from $51.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, April 13th. JPMorgan Chase & Co. boosted their price target on shares of Ally Financial from $48.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, April 15th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Ally Financial from $65.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets assumed coverage on shares of Ally Financial in a report on Tuesday, July 6th. They issued a “buy” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $53.17.
In related news, insider Jason E. Schugel sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $50.00, for a total transaction of $125,000.00. Following the sale, the insider now directly owns 224,190 shares in the company, valued at $11,209,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Jonathan Brown sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 1st. The stock was sold at an average price of $55.45, for a total transaction of $831,750.00. Following the sale, the chief executive officer now owns 665,909 shares in the company, valued at $36,924,654.05. The disclosure for this sale can be found here. Insiders have sold 29,584 shares of company stock worth $1,580,122 over the last 90 days. Insiders own 0.46% of the company’s stock.
About Ally Financial
Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
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