Asset Management One Co. Ltd. Takes Position in Ally Financial Inc. $ALLY

Asset Management One Co. Ltd. purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,844 shares of the financial services provider’s stock, valued at approximately $856,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Fulton Bank N.A. grew its holdings in shares of Ally Financial by 1.3% in the second quarter. Fulton Bank N.A. now owns 19,888 shares of the financial services provider’s stock worth $775,000 after purchasing an additional 260 shares during the last quarter. MAI Capital Management grew its stake in Ally Financial by 45.1% in the 2nd quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 303 shares in the last quarter. Econ Financial Services Corp increased its position in shares of Ally Financial by 0.5% during the second quarter. Econ Financial Services Corp now owns 59,993 shares of the financial services provider’s stock worth $2,337,000 after acquiring an additional 311 shares during the period. Amalgamated Bank raised its stake in shares of Ally Financial by 0.3% during the second quarter. Amalgamated Bank now owns 126,980 shares of the financial services provider’s stock valued at $4,946,000 after acquiring an additional 344 shares in the last quarter. Finally, Sara Bay Financial grew its position in shares of Ally Financial by 1.6% during the 3rd quarter. Sara Bay Financial now owns 24,017 shares of the financial services provider’s stock worth $941,000 after buying an additional 370 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Trading Down 0.4%

Shares of ALLY opened at $45.71 on Friday. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $47.27. The stock has a market cap of $14.08 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 0.22 and a beta of 1.17. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.31. The firm’s fifty day moving average is $42.68 and its two-hundred day moving average is $40.88.

Ally Financial (NYSE:ALLY) last posted its earnings results on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. The firm had revenue of $2.06 billion during the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. Research analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial declared that its board has approved a stock repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 15.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Ally Financial in a research report on Tuesday. Weiss Ratings restated a “hold (c+)” rating on shares of Ally Financial in a report on Monday, December 29th. TD Cowen lifted their price target on Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Ally Financial from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Citigroup raised their price objective on Ally Financial from $59.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.88.

Insider Buying and Selling

In related news, insider Kathleen L. Patterson sold 29,000 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $40.86, for a total value of $1,184,940.00. Following the sale, the insider directly owned 100,203 shares in the company, valued at $4,094,294.58. The trade was a 22.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.67% of the company’s stock.

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.