Strs Ohio Raises Stake in Ally Financial Inc. (NYSE:ALLY)
Strs Ohio increased its stake in Ally Financial Inc. (NYSE:ALLY) by 22.2% during the second quarter, Holdings Channel reports. The fund owned 68,804 shares of the financial services provider’s stock after buying an additional 12,522 shares during the period. Strs Ohio’s holdings in Ally Financial were worth $1,438,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Greenleaf Trust bought a new position in Ally Financial during the second quarter valued at about $4,203,000. Sentinel Trust Co. LBA increased its position in Ally Financial by 16.3% in the second quarter. Sentinel Trust Co. LBA now owns 252,744 shares of the financial services provider’s stock valued at $5,283,000 after buying an additional 35,426 shares during the last quarter. Malaga Cove Capital LLC bought a new position in Ally Financial during the second quarter valued at about $696,000. State Treasurer State of Michigan increased its position in Ally Financial by 16.2% in the second quarter. State Treasurer State of Michigan now owns 1,430,966 shares of the financial services provider’s stock valued at $29,907,000 after buying an additional 200,000 shares during the last quarter. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO bought a new position in Ally Financial during the second quarter valued at about $1,082,000.
Ally Financial Inc. (NYSE ALLY) opened at 22.01 on Friday. The stock’s 50 day moving average is $21.71 and its 200-day moving average is $20.80. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 11.22 and a beta of 1.42. Ally Financial Inc. has a 12 month low of $16.68 and a 12 month high of $23.62.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. Ally Financial had a net margin of 13.83% and a return on equity of 7.55%. During the same period in the previous year, the firm posted $0.54 EPS. Equities analysts anticipate that Ally Financial Inc. will post $2.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, July 28th. This is a positive change from Ally Financial’s previous quarterly dividend of $0.08. This represents a $0.48 annualized dividend and a dividend yield of 2.18%. Ally Financial’s payout ratio is 24.49%.
Ally Financial announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $760.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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ALLY has been the topic of a number of analyst reports. BidaskClub raised shares of Ally Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $31.00 target price (up previously from $30.00) on shares of Ally Financial in a research note on Sunday, July 30th. Piper Jaffray Companies reissued a “buy” rating on shares of Ally Financial in a research note on Friday, July 28th. TheStreet raised shares of Ally Financial from a “c” rating to a “b-” rating in a research note on Wednesday, July 19th. Finally, Stephens cut shares of Ally Financial from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $23.00 to $20.00 in a research note on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $25.07.
Ally Financial Company 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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