The Manufacturers Life Insurance Company Takes Position in Ally Financial Inc. $ALLY

The Manufacturers Life Insurance Company bought a new position in shares of Ally Financial Inc. (NYSE:ALLY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 204,093 shares of the financial services provider’s stock, valued at approximately $9,378,000.

A number of other institutional investors have also made changes to their positions in ALLY. Fideuram Asset Management Ireland dac bought a new stake in Ally Financial in the 4th quarter valued at $35,000. Trust Co. of Vermont acquired a new position in shares of Ally Financial in the second quarter valued at $36,000. Safe Harbor Fiduciary LLC bought a new position in shares of Ally Financial in the fourth quarter valued at about $37,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Ally Financial during the 4th quarter worth about $38,000. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Ally Financial by 30.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock worth $40,000 after buying an additional 240 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Trading Down 1.3%

Shares of Ally Financial stock opened at $42.20 on Friday. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.26 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month high of $47.29. The firm’s 50-day moving average price is $44.52 and its two-hundred day moving average price is $42.63.

Ally Financial (NYSE:ALLY) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Ally Financial’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, July 31st. Ally Financial’s dividend payout ratio (DPR) is 28.30%.

Insider Buying and Selling

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the sale, the insider directly owned 88,927 shares in the company, valued at $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALLY. Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Ally Financial in a report on Wednesday, July 22nd. Bank of America increased their price objective on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Ally Financial presently has an average rating of “Moderate Buy” and an average target price of $53.64.

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.