Northern Trust Corp Has $70.65 Million Stake in Ally Financial Inc. (ALLY)
Northern Trust Corp grew its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 2.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,380,306 shares of the financial services provider’s stock after buying an additional 74,898 shares during the quarter. Northern Trust Corp owned 0.70% of Ally Financial worth $70,649,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in 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 buying an additional 6,045 shares during the period. Capstone Asset Management Co. bought a new stake in Ally Financial during the 2nd quarter valued at about $208,000. Achmea Investment Management B.V. bought a new stake in Ally Financial during the 1st quarter valued at about $210,000. Twin Tree Management LP bought a new stake in Ally Financial during the 2nd quarter valued at about $215,000. Finally, Pacer Advisors Inc. lifted its holdings in Ally Financial by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 10,728 shares of the financial services provider’s stock valued at $218,000 after buying an additional 328 shares in the last quarter.
Ally Financial Inc. (ALLY) opened at 24.42 on Tuesday. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of 12.45 and a beta of 1.43. The stock has a 50 day moving average price of $22.75 and a 200 day moving average price of $20.95. Ally Financial Inc. has a 52-week low of $16.68 and a 52-week high of $24.43.
Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ 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 previous year, the firm posted $0.54 EPS. On average, equities analysts expect that Ally Financial Inc. will post $2.27 earnings per share for the current year.
Ally Financial declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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A number of brokerages have commented on ALLY. BidaskClub upgraded shares of Ally Financial from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 28th. ValuEngine raised shares of Ally Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 22nd. Stephens downgraded shares of Ally Financial from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $23.00 to $20.00 in a research note on Monday, July 17th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Ally Financial in a research note on Friday. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $31.00 price target (up previously from $30.00) on shares of Ally Financial in a report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $25.62.
Ally Financial 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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