Geode Capital Management LLC Has $187.55 Million Position in Ally Financial Inc. $ALLY

Geode Capital Management LLC reduced its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 6.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,814,447 shares of the financial services provider’s stock after selling 311,506 shares during the period. Geode Capital Management LLC’s holdings in Ally Financial were worth $187,554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in Ally Financial by 150.3% in the first quarter. Envestnet Asset Management Inc. now owns 276,208 shares of the financial services provider’s stock valued at $10,073,000 after purchasing an additional 165,843 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Ally Financial by 51.1% during the 1st quarter. Cerity Partners LLC now owns 27,813 shares of the financial services provider’s stock valued at $1,014,000 after buying an additional 9,402 shares during the last quarter. CWM LLC grew its stake in shares of Ally Financial by 195.9% in the 1st quarter. CWM LLC now owns 16,930 shares of the financial services provider’s stock valued at $617,000 after buying an additional 11,209 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Ally Financial in the 1st quarter valued at approximately $498,000. Finally, IFP Advisors Inc increased its holdings in Ally Financial by 1,424.5% in the first quarter. IFP Advisors Inc now owns 21,007 shares of the financial services provider’s stock worth $769,000 after buying an additional 19,629 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ally Financial

In related news, insider Kathleen L. Patterson sold 29,000 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total transaction of $1,184,940.00. Following the transaction, the insider directly owned 100,203 shares in the company, valued at $4,094,294.58. The trade was a 22.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on ALLY shares. Morgan Stanley increased their target price on shares of Ally Financial from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Cowen upgraded Ally Financial from a “hold” rating to a “buy” rating in a report on Monday, October 20th. Evercore ISI dropped their price target on shares of Ally Financial from $45.00 to $44.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 30th. TD Cowen raised shares of Ally Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $43.00 to $50.00 in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Ally Financial from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Ally Financial currently has a consensus rating of “Moderate Buy” and an average target price of $45.67.

Ally Financial Trading Down 3.9%

Shares of ALLY stock opened at $37.77 on Tuesday. The firm has a market capitalization of $11.64 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 0.29 and a beta of 1.21. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $44.83. The firm’s fifty day simple moving average is $40.38 and its 200 day simple moving average is $38.69. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. The firm had revenue of $2.06 billion during the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. As a group, sell-side analysts predict that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. Ally Financial’s dividend payout ratio (DPR) is 72.29%.

About Ally Financial

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.