Econ Financial Services Corp Purchases New Shares in Ally Financial Inc. $ALLY

Econ Financial Services Corp purchased a new stake in Ally Financial Inc. (NYSE:ALLY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,144 shares of the financial services provider’s stock, valued at approximately $776,000.

Several other large investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Ally Financial in the second quarter valued at approximately $95,897,000. Wellington Management Group LLP lifted its holdings in Ally Financial by 19.6% during the third quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock worth $467,996,000 after acquiring an additional 1,958,201 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Ally Financial by 39.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider’s stock worth $210,352,000 after purchasing an additional 1,523,425 shares during the last quarter. Marshall Wace LLP purchased a new position in Ally Financial in the second quarter worth $51,661,000. Finally, Qube Research & Technologies Ltd grew its stake in Ally Financial by 8,255.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock valued at $48,231,000 after purchasing an additional 1,215,659 shares during the period. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Stock Performance

Shares of ALLY opened at $39.23 on Wednesday. The firm has a market cap of $12.08 billion, a PE ratio of 16.69, a PEG ratio of 0.19 and a beta of 1.18. The stock’s fifty day moving average price is $40.25 and its two-hundred day moving average price is $41.35. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $47.27.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

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

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, February 2nd. Ally Financial’s dividend payout ratio (DPR) is currently 51.06%.

Insider Transactions at Ally Financial

In other Ally Financial news, CFO Russell E. Hutchinson bought 11,566 shares of Ally Financial stock in a transaction dated Tuesday, January 27th. The stock was purchased at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the purchase, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael George Rhodes purchased 23,800 shares of the stock in a transaction dated Friday, January 23rd. The stock was acquired at an average cost of $41.68 per share, for a total transaction of $991,984.00. Following the transaction, the chief executive officer owned 49,434 shares of the company’s stock, valued at approximately $2,060,409.12. This trade represents a 92.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ALLY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings lowered shares of Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. JPMorgan Chase & Co. raised their price objective on shares of Ally Financial from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of Ally Financial in a research report on Monday, January 12th. Finally, Evercore dropped their target price on shares of Ally Financial from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.67.

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.