NorthCoast Asset Management LLC decreased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 38.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,754 shares of the financial services provider’s stock after selling 69,897 shares during the period. NorthCoast Asset Management LLC’s holdings in Ally Financial were worth $2,357,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. American Century Companies Inc. bought a new position in shares of Ally Financial during the 1st quarter valued at about $4,325,000. Banced Corp boosted its position in shares of Ally Financial by 5.3% during the 2nd quarter. Banced Corp now owns 22,661 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 1,139 shares in the last quarter. Capstone Asset Management Co. bought a new position in shares of Ally Financial during the 2nd quarter valued at about $208,000. Federated Investors Inc. PA boosted its position in shares of Ally Financial by 7.2% during the 2nd quarter. Federated Investors Inc. PA now owns 646,612 shares of the financial services provider’s stock valued at $13,514,000 after purchasing an additional 43,335 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Ally Financial by 1.0% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 626,217 shares of the financial services provider’s stock valued at $13,088,000 after purchasing an additional 6,014 shares in the last quarter.
Several equities analysts have recently weighed in on the stock. Piper Jaffray Companies restated a “buy” rating on shares of Ally Financial in a research report on Friday, July 28th. BidaskClub upgraded shares of Ally Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $31.00 target price (up from $30.00) on shares of Ally Financial in a report on Sunday, July 30th. BMO Capital Markets reiterated a “buy” rating and issued a $26.00 target price on shares of Ally Financial in a report on Friday, August 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Ally Financial in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $25.23.
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Ally Financial Inc. (ALLY) traded up 1.53% during trading on Friday, hitting $22.58. 3,922,615 shares of the stock were exchanged. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 11.51 and a beta of 1.42. The firm’s 50 day moving average price is $22.48 and its 200-day moving average price is $20.86. Ally Financial Inc. has a 1-year low of $16.68 and a 1-year high of $23.62.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the business posted $0.54 EPS. On average, analysts anticipate that Ally Financial Inc. will post $2.27 EPS for the current year.
Ally Financial announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $760.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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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