Rafferty Asset Management LLC Trims Holdings in Ally Financial Inc. (ALLY)
Rafferty Asset Management LLC lowered its position in Ally Financial Inc. (NYSE:ALLY) by 15.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,317 shares of the financial services provider’s stock after selling 12,198 shares during the quarter. Rafferty Asset Management LLC’s holdings in Ally Financial were worth $1,428,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Ally Financial by 668.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,950 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 6,045 shares during the period. Capstone Asset Management Co. bought a new position in shares of Ally Financial during the 2nd quarter worth approximately $208,000. Twin Tree Management LP bought a new position in shares of Ally Financial during the 2nd quarter worth approximately $215,000. Achmea Investment Management B.V. bought a new position in shares of Ally Financial during the 1st quarter worth approximately $210,000. Finally, Pacer Advisors Inc. lifted its position in shares of Ally Financial by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 10,728 shares of the financial services provider’s stock worth $218,000 after buying an additional 328 shares during the period.
Shares of Ally Financial Inc. (NYSE:ALLY) opened at 23.32 on Friday. The firm has a market capitalization of $11.19 billion, a PE ratio of 11.89 and a beta of 1.42. The company’s 50-day moving average price is $22.50 and its 200-day moving average price is $20.84. Ally Financial Inc. has a 12-month low of $16.68 and a 12-month high of $23.62.
Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company earned $0.54 earnings per share. Analysts anticipate that Ally Financial Inc. will post $2.27 EPS for the current year.
Ally Financial announced that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $760.00 million in 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 typically a sign that the company’s board of directors believes its shares are undervalued.
ALLY has been the subject of several analyst reports. TheStreet upgraded Ally Financial from a “c” rating to a “b-” rating in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and set a $28.00 target price on shares of Ally Financial in a research report on Wednesday, August 23rd. BidaskClub upgraded Ally Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Piper Jaffray Companies restated a “buy” rating on shares of Ally Financial in a research report on Friday, July 28th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $24.00 target price on shares of Ally Financial in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $25.58.
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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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