Macquarie Group Ltd. Cuts Holdings in Ally Financial Inc (ALLY)
Macquarie Group Ltd. cut its stake in shares of Ally Financial Inc (NYSE:ALLY) by 16.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,300 shares of the financial services provider’s stock after selling 6,600 shares during the period. Macquarie Group Ltd.’s holdings in Ally Financial were worth $808,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Toronto Dominion Bank increased its holdings 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 purchasing an additional 1,070 shares during the period. Capital Management Associates NY bought a new position in shares of Ally Financial during the third quarter worth approximately $203,000. Capstone Asset Management Co. bought a new position in shares of Ally Financial during the second quarter worth approximately $208,000. Twin Tree Management LP bought a new position in shares of Ally Financial during the second quarter worth approximately $215,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Ally Financial by 50.4% during the second quarter. Tower Research Capital LLC TRC now owns 10,455 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 3,505 shares during the period.
A number of brokerages recently issued reports on ALLY. Piper Jaffray Companies reissued a “buy” rating and issued a $32.00 price objective on shares of Ally Financial in a research note on Thursday, December 7th. Goldman Sachs Group began coverage on shares of Ally Financial in a research note on Monday, December 4th. They issued a “buy” rating and a $32.00 price objective on the stock. Wells Fargo & Company began coverage on shares of Ally Financial in a research note on Friday, December 1st. They issued an “outperform” rating and a $30.00 price objective on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $28.00 price objective (up from $26.00) on shares of Ally Financial in a research note on Thursday, November 30th. Finally, Zacks Investment Research raised shares of Ally Financial from a “sell” rating to a “hold” rating and set a $29.00 price objective on the stock in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $28.00.
Ally Financial (NYSE:ALLY) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Ally Financial had a net margin of 14.75% and a return on equity of 7.72%. During the same quarter in the previous year, the firm posted $0.56 earnings per share. sell-side analysts expect that Ally Financial Inc will post 2.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.67%. Ally Financial’s payout ratio is presently 22.22%.
TRADEMARK VIOLATION NOTICE: This piece was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.watchlistnews.com/macquarie-group-ltd-cuts-holdings-in-ally-financial-inc-ally/1759113.html.
About Ally Financial
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 MarketBeat.com's FREE daily email newsletter.