Private Management Group Inc. Acquires 21,846 Shares of Ally Financial Inc. (NYSE:ALLY)

Private Management Group Inc. boosted its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 721,693 shares of the financial services provider’s stock after buying an additional 21,846 shares during the quarter. Private Management Group Inc.’s holdings in Ally Financial were worth $25,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Boston Partners bought a new position in Ally Financial in the 1st quarter worth $152,079,000. Jennison Associates LLC bought a new position in shares of Ally Financial in the first quarter worth about $52,252,000. Wedge Capital Management L L P NC lifted its position in shares of Ally Financial by 584.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock valued at $49,659,000 after buying an additional 1,191,529 shares in the last quarter. Delta Global Management LP grew its stake in shares of Ally Financial by 3,262.3% during the 1st quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock valued at $42,051,000 after acquiring an additional 1,005,182 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Ally Financial by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock worth $384,715,000 after acquiring an additional 987,489 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALLY has been the subject of a number of recent analyst reports. TD Cowen dropped their price target on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $46.00 to $40.00 in a research note on Monday, October 7th. Morgan Stanley lowered their price objective on Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Ally Financial in a research note on Monday, October 21st. Finally, Bank of America lowered their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.38.

Ally Financial Trading Down 0.5 %

NYSE ALLY traded down $0.18 during trading on Friday, hitting $34.57. The stock had a trading volume of 2,380,522 shares, compared to its average volume of 3,497,719. The stock has a 50 day simple moving average of $36.24 and a 200 day simple moving average of $38.89. Ally Financial Inc. has a one year low of $24.72 and a one year high of $45.46. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 0.43 and a beta of 1.39.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. Ally Financial’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts predict that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.47%. Ally Financial’s dividend payout ratio is presently 48.00%.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.