Ally Financial Inc. (NYSE:ALLY) Position Held by PL Capital Advisors LLC
PL Capital Advisors LLC held its stake in Ally Financial Inc. (NYSE:ALLY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,000 shares of the financial services provider’s stock at the end of the second quarter. Ally Financial makes up 0.6% of PL Capital Advisors LLC’s portfolio, making the stock its 24th largest position. PL Capital Advisors LLC’s holdings in Ally Financial were worth $2,090,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of ALLY. BlackRock Inc. boosted its stake in Ally Financial by 1,072.5% in the first quarter. BlackRock Inc. now owns 23,195,719 shares of the financial services provider’s stock valued at $471,567,000 after buying an additional 21,217,360 shares in the last quarter. Iridian Asset Management LLC CT purchased a new stake in Ally Financial during the first quarter valued at $143,806,000. Canada Pension Plan Investment Board boosted its stake in Ally Financial by 1,058.4% in the first quarter. Canada Pension Plan Investment Board now owns 6,767,985 shares of the financial services provider’s stock valued at $137,593,000 after buying an additional 6,183,710 shares in the last quarter. Harris Associates L P boosted its stake in Ally Financial by 12.0% in the first quarter. Harris Associates L P now owns 40,594,446 shares of the financial services provider’s stock valued at $825,285,000 after buying an additional 4,345,639 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Ally Financial by 10.2% in the first quarter. Vanguard Group Inc. now owns 38,532,959 shares of the financial services provider’s stock valued at $783,374,000 after buying an additional 3,551,308 shares in the last quarter.
Ally Financial Inc. (NYSE ALLY) opened at 22.76 on Thursday. The stock has a 50 day moving average of $21.60 and a 200-day moving average of $20.77. The company has a market cap of $10.92 billion, a PE ratio of 11.60 and a beta of 1.42. Ally Financial Inc. has a 12-month low of $16.68 and a 12-month high of $23.62.
Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, equities research analysts anticipate that Ally Financial Inc. will post $2.27 earnings per share for the current fiscal year.
Ally Financial declared that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that allows the company to buyback $760.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.12 per share. This is a positive change from Ally Financial’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.11%. Ally Financial’s payout ratio is presently 24.49%.
COPYRIGHT VIOLATION WARNING: This report was originally reported by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.watchlistnews.com/ally-financial-inc-nyseally-position-held-by-pl-capital-advisors-llc/1470048.html.
Several equities research analysts recently weighed in on ALLY shares. BTIG Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of Ally Financial in a research report on Saturday, April 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 price objective on shares of Ally Financial in a research report on Tuesday, April 25th. BidaskClub raised shares of Ally Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Stephens cut shares of Ally Financial from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $23.00 to $20.00 in a research report on Monday, July 17th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Ally Financial in a research report on Friday, July 28th. One 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 stock. Ally Financial currently has a consensus rating of “Buy” and an average price target of $25.07.
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.
Want to see what other hedge funds are holding ALLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ally Financial Inc. (NYSE:ALLY).
Receive News & Ratings for Ally Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ally Financial Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.