Caisse DE Depot ET Placement DU Quebec Purchases 3,600 Shares of Ally Financial Inc. (ALLY)
Caisse DE Depot ET Placement DU Quebec increased its position in shares of Ally Financial Inc. (NYSE:ALLY) by 2.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 179,000 shares of the financial services provider’s stock after buying an additional 3,600 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Ally Financial were worth $4,361,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Tiedemann Wealth Management LLC increased its stake in Ally Financial by 70.4% in the third quarter. Tiedemann Wealth Management LLC now owns 20,169 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 8,332 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Ally Financial by 23.0% during the second quarter. Toronto Dominion Bank now owns 5,714 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 1,070 shares during the last quarter. Capital Management Associates NY purchased a new position in shares of Ally Financial during the third quarter worth approximately $203,000. Capstone Asset Management Co. purchased a new position in shares of Ally Financial during the second quarter worth approximately $208,000. Finally, Twin Tree Management LP purchased a new position in shares of Ally Financial during the second quarter worth approximately $215,000.
A number of brokerages have recently issued reports on ALLY. Piper Jaffray Companies restated a “buy” rating and set a $32.00 target price on shares of Ally Financial in a research report on Thursday. Goldman Sachs Group assumed coverage on Ally Financial in a report on Monday, December 4th. They set a “buy” rating and a $32.00 price target for the company. Wells Fargo & Company assumed coverage on Ally Financial in a report on Friday, December 1st. They set an “outperform” rating and a $30.00 price target for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 price target (up from $26.00) on shares of Ally Financial in a report on Thursday, November 30th. Finally, Zacks Investment Research raised Ally Financial from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $28.00.
Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.08. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Ally Financial had a return on equity of 7.72% and a net margin of 14.75%. During the same quarter in the previous year, the company posted $0.56 EPS. equities analysts anticipate that Ally Financial Inc. will post 2.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Tuesday, October 31st. Ally Financial’s dividend payout ratio is presently 22.22%.
Ally Financial 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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