Arrowstreet Capital Limited Partnership Boosts Stake in Ally Financial Inc. $ALLY

Arrowstreet Capital Limited Partnership increased its stake in Ally Financial Inc. (NYSE:ALLY) by 7.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,071,504 shares of the financial services provider’s stock after buying an additional 444,756 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Ally Financial were worth $274,978,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Ally Financial by 19.6% during the 3rd quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock valued at $467,996,000 after purchasing an additional 1,958,201 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ally Financial by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,708,942 shares of the financial services provider’s stock valued at $394,432,000 after buying an additional 295,048 shares during the period. Geode Capital Management LLC raised its holdings 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 worth $243,795,000 after purchasing an additional 241,000 shares during the period. Thrivent Financial for Lutherans raised its holdings in Ally Financial by 0.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 3,867,023 shares of the financial services provider’s stock worth $175,137,000 after purchasing an additional 20,198 shares during the period. Finally, Bank of America Corp DE raised its holdings in Ally Financial by 38.9% in the 2nd quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock worth $146,888,000 after purchasing an additional 1,056,060 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Evercore reissued an “outperform” rating and set a $54.00 price target on shares of Ally Financial in a report on Tuesday, April 21st. JPMorgan Chase & Co. cut their price objective on Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Barclays lifted their price target on Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.14.

Ally Financial Stock Performance

Shares of NYSE:ALLY opened at $44.41 on Monday. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10. Ally Financial Inc. has a 52 week low of $35.90 and a 52 week high of $47.27. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average of $42.81 and a 200 day moving average of $42.31.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. Ally Financial’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, sell-side analysts predict that Ally Financial Inc. will post 5.28 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. Ally Financial’s dividend payout ratio is presently 29.27%.

Insiders Place Their Bets

In other news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $42.14, for a total transaction of $210,700.00. Following the transaction, the insider directly owned 93,927 shares of the company’s stock, valued at approximately $3,958,083.78. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas R. Timmerman sold 39,675 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the sale, the insider directly owned 477,627 shares in the company, valued at $21,574,411.59. This trade represents a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.46% 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.