CIBC World Markets Inc. purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 56,834 shares of the financial services provider’s stock, valued at approximately $1,188,000.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Ally Financial by 10.2% during the first quarter. Vanguard Group Inc. now owns 38,532,959 shares of the financial services provider’s stock valued at $783,374,000 after buying an additional 3,551,308 shares during the last quarter. BlackRock Inc. raised its position in shares of Ally Financial by 1,072.5% during the first quarter. BlackRock Inc. now owns 23,195,719 shares of the financial services provider’s stock valued at $471,567,000 after buying an additional 21,217,360 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Ally Financial by 36.6% during the second quarter. Canada Pension Plan Investment Board now owns 9,244,175 shares of the financial services provider’s stock valued at $193,203,000 after buying an additional 2,476,190 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Ally Financial by 28.3% during the second quarter. Bank of New York Mellon Corp now owns 8,569,466 shares of the financial services provider’s stock valued at $179,101,000 after buying an additional 1,889,510 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Ally Financial by 4.5% during the second quarter. Wedge Capital Management L L P NC now owns 7,536,055 shares of the financial services provider’s stock valued at $157,504,000 after buying an additional 326,850 shares during the last quarter.

Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Ally Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. BMO Capital Markets reiterated a “buy” rating and set a $26.00 price objective on shares of Ally Financial in a research report on Friday, August 25th. Jefferies Group LLC reiterated a “buy” rating and set a $28.00 price objective on shares of Ally Financial in a research report on Wednesday, August 23rd. Piper Jaffray Companies reiterated a “buy” rating on shares of Ally Financial in a research report on Friday, September 1st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $31.00 price objective (up previously from $30.00) on shares of Ally Financial in a research report on Sunday, July 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $25.23.

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Shares of Ally Financial Inc. (NYSE ALLY) opened at 22.58 on Friday. Ally Financial Inc. has a 12 month low of $16.68 and a 12 month high of $23.62. The company has a 50-day moving average of $22.48 and a 200 day moving average of $20.86. The company has a market cap of $10.83 billion, a PE ratio of 11.51 and a beta of 1.42.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $0.54 EPS. On average, analysts anticipate that Ally Financial Inc. will post $2.27 earnings per share for the current year.

Ally Financial announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.

Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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