Ally Financial Inc. (ALLY) Position Increased by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA raised its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 29.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,442 shares of the financial services provider’s stock after buying an additional 27,240 shares during the period. BNP Paribas Arbitrage SA’s holdings in Ally Financial were worth $2,496,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in ALLY. Wetherby Asset Management Inc. raised its position in Ally Financial by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 12,247 shares of the financial services provider’s stock valued at $256,000 after buying an additional 56 shares in the last quarter. Advisors Asset Management Inc. raised its position in Ally Financial by 0.4% in the second quarter. Advisors Asset Management Inc. now owns 28,029 shares of the financial services provider’s stock valued at $586,000 after buying an additional 107 shares in the last quarter. First Heartland Consultants Inc. raised its position in Ally Financial by 0.3% in the second quarter. First Heartland Consultants Inc. now owns 49,668 shares of the financial services provider’s stock valued at $1,038,000 after buying an additional 168 shares in the last quarter. TD Asset Management Inc. raised its position in Ally Financial by 0.8% in the first quarter. TD Asset Management Inc. now owns 25,598 shares of the financial services provider’s stock valued at $520,000 after buying an additional 200 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in Ally Financial by 0.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 64,238 shares of the financial services provider’s stock valued at $1,306,000 after buying an additional 300 shares in the last quarter.
Shares of Ally Financial Inc. (NYSE ALLY) opened at 22.09 on Wednesday. Ally Financial Inc. has a 52-week low of $16.68 and a 52-week high of $23.62. The stock has a market cap of $10.60 billion, a P/E ratio of 11.26 and a beta of 1.42. The firm’s 50 day moving average price is $22.07 and its 200 day moving average price is $20.91.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Ally Financial had a net margin of 13.83% and a return on equity of 7.55%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $0.54 earnings per share. On average, analysts expect that Ally Financial Inc. will post $2.28 EPS for the current year.
Ally Financial announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a $0.12 dividend. This is a positive change from Ally Financial’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.17%. Ally Financial’s dividend payout ratio (DPR) is 24.49%.
Several research firms have recently issued reports on ALLY. Stephens lowered Ally Financial from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $23.00 to $20.00 in a report on Monday, July 17th. Sanford C. Bernstein reaffirmed 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. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Ally Financial in a report on Friday, July 28th. BidaskClub raised Ally Financial from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 target price on shares of Ally Financial in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Ally Financial currently has an average rating of “Buy” and an average price target of $25.23.
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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