NorthCoast Asset Management LLC Grows Holdings in Ally Financial Inc. (NYSE:ALLY)
NorthCoast Asset Management LLC raised its position in Ally Financial Inc. (NYSE:ALLY) by 8.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,661 shares of the financial services provider’s stock after buying an additional 1,360 shares during the period. NorthCoast Asset Management LLC’s holdings in Ally Financial were worth $443,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. TD Asset Management Inc. purchased a new stake in shares of Ally Financial during the third quarter worth about $701,000. Shelton Capital Management purchased a new stake in shares of Ally Financial during the third quarter worth about $913,000. SG Americas Securities LLC purchased a new stake in shares of Ally Financial during the third quarter worth about $1,339,000. Fifth Third Bancorp increased its stake in shares of Ally Financial by 10.3% during the third quarter. Fifth Third Bancorp now owns 7,115 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 667 shares in the last quarter. Finally, Magnolia Group LLC increased its stake in shares of Ally Financial by 2.1% during the third quarter. Magnolia Group LLC now owns 6,763,202 shares of the financial services provider’s stock worth $169,553,000 after purchasing an additional 136,850 shares in the last quarter. 85.15% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:ALLY opened at $28.98 on Friday. Ally Financial Inc. has a 52 week low of $10.22 and a 52 week high of $33.34. The company’s 50 day moving average is $28.15 and its two-hundred day moving average is $22.58. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.82. The company has a market cap of $10.83 billion, a PE ratio of 14.21 and a beta of 1.64.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 13th. Shareholders of record on Friday, October 30th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, October 29th. Ally Financial’s dividend payout ratio is presently 20.43%.
A number of equities analysts recently weighed in on ALLY shares. UBS Group boosted their price target on shares of Ally Financial from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. ValuEngine upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Morgan Stanley boosted their price target on shares of Ally Financial from $31.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. JPMorgan Chase & Co. boosted their price target on shares of Ally Financial from $23.50 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. Finally, Wolfe Research started coverage on shares of Ally Financial in a research report on Friday, July 31st. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. Ally Financial presently has a consensus rating of “Buy” and an average price target of $27.69.
In related news, CEO Jeffrey Jonathan Brown sold 17,300 shares of the stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $29.02, for a total value of $502,046.00. Following the transaction, the chief executive officer now directly owns 715,146 shares of the company’s stock, valued at approximately $20,753,536.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO David J. Debrunner sold 22,500 shares of the stock in a transaction on Monday, November 16th. The shares were sold at an average price of $30.82, for a total transaction of $693,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 87,079 shares in the company, valued at $2,683,774.78. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
Ally Financial Profile
Ally Financial Inc, a bank holding company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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