Ally Financial Inc. (ALLY) Shares Sold by ProShare Advisors LLC
ProShare Advisors LLC decreased its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,821 shares of the financial services provider’s stock after selling 3,811 shares during the quarter. ProShare Advisors LLC’s holdings in Ally Financial were worth $1,397,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in ALLY. BlackRock Inc. lifted its holdings in Ally Financial by 1,072.5% during the 1st 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 in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Ally Financial by 262.5% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,275,900 shares of the financial services provider’s stock valued at $110,266,000 after buying an additional 3,820,400 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ally Financial by 10.2% during the 1st 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 in the last quarter. FMR LLC lifted its holdings in Ally Financial by 736.9% during the 1st quarter. FMR LLC now owns 3,398,866 shares of the financial services provider’s stock valued at $69,099,000 after buying an additional 2,992,720 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Ally Financial by 36.6% during the 2nd 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 in the last quarter.
Ally Financial Inc. (NYSE:ALLY) opened at 23.83 on Thursday. The stock has a 50 day moving average of $22.50 and a 200-day moving average of $20.84. The stock has a market cap of $11.43 billion, a P/E ratio of 12.15 and a beta of 1.42. Ally Financial Inc. has a 12 month low of $16.68 and a 12 month high of $24.04.
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 Zacks’ consensus estimate of $0.53 by $0.05. Ally Financial had a net margin of 13.83% and a return on equity of 7.55%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, equities analysts forecast that Ally Financial Inc. will post $2.27 EPS for the current fiscal year.
Ally Financial announced that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $760.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
A number of equities research analysts recently weighed in on ALLY shares. BMO Capital Markets reiterated a “buy” rating and set a $26.00 price objective on shares of Ally Financial in a report on Friday, August 25th. Piper Jaffray Companies reissued a “buy” rating on shares of Ally Financial in a research report on Friday, September 1st. BidaskClub raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Ally Financial from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reissued 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, three have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $25.62.
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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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