Private Management Group Inc. Decreases Stake in Ally Financial Inc. $ALLY

Private Management Group Inc. cut its position in shares of Ally Financial Inc. (NYSE:ALLY) by 2.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 727,926 shares of the financial services provider’s stock after selling 15,490 shares during the period. Private Management Group Inc.’s holdings in Ally Financial were worth $28,535,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Ally Financial by 106.5% during the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after acquiring an additional 129,497 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Ally Financial by 22.8% during the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 415 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Ally Financial by 11.1% in the first quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 1,292 shares in the last quarter. Focus Partners Wealth bought a new stake in Ally Financial in the first quarter worth $259,000. Finally, ProShare Advisors LLC increased its position in Ally Financial by 4.7% in the second quarter. ProShare Advisors LLC now owns 12,257 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 547 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Insider Activity

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

Ally Financial Stock Down 1.9%

Shares of ALLY opened at $36.16 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The business has a fifty day moving average of $41.80 and a 200 day moving average of $41.60. The company has a market cap of $11.18 billion, a PE ratio of 15.39, a P/E/G ratio of 0.19 and a beta of 1.18. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $47.27.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts expect that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial announced that its Board of Directors has initiated a share buyback program on Wednesday, December 10th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 15.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, February 2nd. Ally Financial’s dividend payout ratio is presently 51.06%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ALLY shares. Barclays upped their price target on shares of Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. UBS Group set a $48.00 target price on shares of Ally Financial in a report on Monday, January 12th. JPMorgan Chase & Co. upped their target price on shares of Ally Financial from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $52.00 price target on shares of Ally Financial in a report on Monday, January 12th. Finally, Morgan Stanley set a $53.00 price target on Ally Financial and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.31.

Ally Financial Company 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.