Tokio Marine Asset Management Co. Ltd. Takes $2.19 Million Position in Ally Financial Inc. (ALLY)
Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 90,200 shares of the financial services provider’s stock, valued at approximately $2,188,000.
A number of other hedge funds also recently made changes to their positions in ALLY. Toronto Dominion Bank grew its holdings in Ally Financial by 23.0% during the 2nd quarter. Toronto Dominion Bank now owns 5,714 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 1,070 shares in the last quarter. Capstone Asset Management Co. acquired a new position in Ally Financial during the 2nd quarter worth $208,000. Achmea Investment Management B.V. acquired a new position in Ally Financial during the 1st quarter worth $210,000. Twin Tree Management LP acquired a new position in Ally Financial during the 2nd quarter worth $215,000. Finally, Tower Research Capital LLC TRC grew its holdings in Ally Financial by 50.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,455 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 3,505 shares in the last quarter.
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 the Thomson Reuters’ consensus estimate of $0.57 by $0.08. Ally Financial had a net margin of 14.75% and a return on equity of 7.72%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm earned $0.56 EPS.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of Infinity. The ex-dividend date is Tuesday, October 31st. Ally Financial’s payout ratio is 22.22%.
Several brokerages have weighed in on ALLY. Zacks Investment Research raised shares of Ally Financial from a “sell” rating to a “hold” rating and set a $29.00 price objective for the company in a report on Friday, October 27th. Morgan Stanley raised their price objective on shares of Ally Financial from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. BMO Capital Markets lifted their price target on shares of Ally Financial from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Barclays PLC lifted their price target on shares of Ally Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Finally, Credit Suisse Group lifted their price target on shares of Ally Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Ally Financial presently has a consensus rating of “Buy” and a consensus target price of $26.93.
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Ally Financial 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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