Ally Financial Inc. $ALLY Shares Sold by Towle & Co.

Towle & Co. decreased its holdings in Ally Financial Inc. (NYSE:ALLY) by 18.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,337 shares of the financial services provider’s stock after selling 44,991 shares during the quarter. Ally Financial makes up approximately 2.0% of Towle & Co.’s holdings, making the stock its 27th largest holding. Towle & Co.’s holdings in Ally Financial were worth $7,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in Ally Financial in the second quarter valued at approximately $95,897,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Ally Financial by 39.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider’s stock valued at $210,352,000 after purchasing an additional 1,523,425 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Ally Financial in the 2nd quarter valued at $51,661,000. American Century Companies Inc. grew its stake in shares of Ally Financial by 196.2% during the 2nd quarter. American Century Companies Inc. now owns 1,720,656 shares of the financial services provider’s stock valued at $67,020,000 after buying an additional 1,139,703 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Ally Financial during the 2nd quarter worth $44,101,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Stock Up 0.4%

NYSE ALLY opened at $42.09 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. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $47.27. The business has a 50 day moving average price of $43.75 and a two-hundred day moving average price of $41.52. The stock has a market cap of $12.96 billion, a PE ratio of 17.91, a P/E/G ratio of 0.21 and a beta of 1.19.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.17 billion for 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 business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. As a group, sell-side analysts predict that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Ally Financial’s dividend payout ratio (DPR) is presently 51.06%.

Ally Financial announced that its board has authorized a share buyback plan on Wednesday, December 10th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 15.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 target price on shares of Ally Financial in a research report on Tuesday, January 6th. Wells Fargo & Company raised shares of Ally Financial from a “hold” rating to an “overweight” rating in a research report on Wednesday, December 17th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $52.00 price objective on shares of Ally Financial in a research report on Monday, January 12th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Ally Financial has a consensus rating of “Moderate Buy” and a consensus target price of $50.31.

Insiders Place Their Bets

In other Ally Financial news, CFO Russell E. Hutchinson bought 11,566 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were purchased at an average price of $43.17 per share, with a total value of $499,304.22. Following the completion of the acquisition, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. The trade was a 5.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael George Rhodes purchased 23,800 shares of Ally Financial stock in a transaction dated Friday, January 23rd. The shares were purchased 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. This trade represents a 92.85% increase in their position. The SEC filing for this purchase provides additional information. 0.67% of the stock is currently owned by insiders.

About Ally Financial

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.