Janus Capital Management LLC lowered its stake in Ally Financial Inc. (NYSE:ALLY) by 93.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,845 shares of the financial services provider’s stock after selling 200,200 shares during the period. Janus Capital Management LLC’s holdings in Ally Financial were worth $281,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Korea Investment CORP bought a new stake in shares of Ally Financial during the first quarter valued at about $1,038,000. Candriam Luxembourg S.C.A. raised its stake in shares of Ally Financial by 22.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 36,193 shares of the financial services provider’s stock valued at $736,000 after buying an additional 6,552 shares during the period. Northern Capital Management LLC bought a new stake in shares of Ally Financial during the first quarter valued at about $1,760,000. State of Alaska Department of Revenue bought a new stake in shares of Ally Financial during the first quarter valued at about $426,000. Finally, Sanders Morris Harris Inc. bought a new stake in shares of Ally Financial during the first quarter valued at about $1,856,000.
Shares of Ally Financial Inc. (NYSE ALLY) traded down 0.54% during trading on Friday, hitting $22.03. The stock had a trading volume of 2,087,804 shares. Ally Financial Inc. has a one year low of $16.68 and a one year high of $23.62. The stock’s 50-day moving average price is $21.92 and its 200-day moving average price is $20.90. The company has a market cap of $10.57 billion, a P/E ratio of 11.23 and a beta of 1.42.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. During the same period last year, the business posted $0.54 EPS. On average, equities research analysts forecast that Ally Financial Inc. will post $2.27 EPS for the current fiscal year.
Ally Financial announced that its board has initiated a stock repurchase program on Wednesday, June 28th that allows the company to buyback $760.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were issued a dividend of $0.12 per share. This is an increase from Ally Financial’s previous quarterly dividend of $0.08. This represents a $0.48 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, July 28th. Ally Financial’s dividend payout ratio (DPR) is presently 24.49%.
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A number of analysts have issued reports on ALLY shares. TheStreet upgraded shares of Ally Financial from a “c” rating to a “b-” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies reiterated a “buy” rating on shares of Ally Financial in a research note on Friday, July 28th. BMO Capital Markets reiterated a “buy” rating and set a $26.00 price target on shares of Ally Financial in a research note on Tuesday, April 25th. BTIG Research reiterated a “buy” rating and set a $30.00 price target on shares of Ally Financial in a research note on Saturday, April 22nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $24.00 price target on shares of Ally Financial in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $25.23.
About Ally Financial
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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