Oppenheimer Asset Management Inc. Boosts Stock Holdings in Ally Financial Inc. $ALLY

Oppenheimer Asset Management Inc. increased its position in shares of Ally Financial Inc. (NYSE:ALLY) by 13.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,288 shares of the financial services provider’s stock after buying an additional 13,887 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ally Financial were worth $4,480,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Waterfront Wealth Inc. raised its position in shares of Ally Financial by 28.4% in the third quarter. Waterfront Wealth Inc. now owns 48,849 shares of the financial services provider’s stock worth $1,983,000 after acquiring an additional 10,811 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Ally Financial by 98.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 552 shares in the last quarter. Bessemer Group Inc. raised its holdings in Ally Financial by 33.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,234 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 310 shares during the period. Savant Capital LLC boosted its position in Ally Financial by 2.9% during the third quarter. Savant Capital LLC now owns 12,154 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 340 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Ally Financial by 13.6% during the third quarter. Envestnet Asset Management Inc. now owns 322,217 shares of the financial services provider’s stock worth $12,631,000 after purchasing an additional 38,566 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Insider Transactions at Ally Financial

In related news, CFO Russell E. Hutchinson purchased 11,566 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was acquired at an average cost of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the transaction, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael George Rhodes purchased 23,800 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average cost of $41.68 per share, with a total value of $991,984.00. Following the acquisition, the chief executive officer owned 49,434 shares of the company’s stock, valued at approximately $2,060,409.12. The trade was a 92.85% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALLY. Morgan Stanley set a $53.00 target price on Ally Financial and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Evercore cut their price target on shares of Ally Financial from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. TD Cowen restated a “buy” rating on shares of Ally Financial in a research report on Thursday, January 8th. Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Ally Financial from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Ally Financial has a consensus rating of “Moderate Buy” and a consensus price target of $50.31.

Ally Financial Stock Down 1.7%

NYSE ALLY opened at $41.65 on Thursday. The business has a fifty day moving average price of $44.05 and a 200 day moving average price of $41.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $12.83 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.22 and a beta of 1.19. Ally Financial Inc. has a one year low of $29.52 and a one year high of $47.27.

Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Research analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial announced that its Board of Directors has initiated a stock buyback plan on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 15.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, February 2nd. Ally Financial’s dividend payout ratio is currently 51.06%.

Ally Financial Profile

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.