IFP Advisors Inc Sells 17,719 Shares of Ally Financial Inc. $ALLY

IFP Advisors Inc decreased its holdings in Ally Financial Inc. (NYSE:ALLY) by 87.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,554 shares of the financial services provider’s stock after selling 17,719 shares during the period. IFP Advisors Inc’s holdings in Ally Financial were worth $109,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in shares of Ally Financial by 19.6% during the third quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock worth $467,996,000 after purchasing an additional 1,958,201 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Ally Financial by 4.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,626,748 shares of the financial services provider’s stock worth $220,569,000 after acquiring an additional 226,188 shares during the last quarter. Bank of America Corp DE increased its position in Ally Financial by 38.9% in the 2nd quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock valued at $146,888,000 after acquiring an additional 1,056,060 shares during the period. Norges Bank acquired a new position in Ally Financial in the 2nd quarter valued at approximately $95,897,000. Finally, American Century Companies Inc. lifted its holdings in shares of Ally Financial by 30.9% during the third quarter. American Century Companies Inc. now owns 2,251,925 shares of the financial services provider’s stock worth $88,276,000 after purchasing an additional 531,269 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ally Financial

In other news, CEO Michael George Rhodes bought 23,800 shares of Ally Financial stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average price of $41.68 per share, with a total value of $991,984.00. Following the completion of the purchase, the chief executive officer directly owned 49,434 shares in the company, valued at $2,060,409.12. The trade was a 92.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Russell E. Hutchinson acquired 11,566 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were purchased at an average cost of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the acquisition, the chief financial officer owned 225,336 shares in the company, valued at $9,727,755.12. This represents a 5.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALLY. UBS Group set a $48.00 price objective on Ally Financial in a research report on Monday, January 12th. BTIG Research restated a “neutral” rating on shares of Ally Financial in a report on Tuesday, January 6th. Morgan Stanley set a $53.00 price objective on shares of Ally Financial and gave the company an “overweight” rating in a report on Tuesday, December 16th. Wells Fargo & Company raised Ally Financial from a “hold” rating to an “overweight” rating in a research report on Wednesday, December 17th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Ally Financial in a research report on Tuesday, January 6th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.67.

Ally Financial Stock Performance

Shares of ALLY stock opened at $37.92 on Tuesday. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $47.27. The firm’s 50 day moving average is $40.32 and its 200 day moving average is $41.37. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $11.68 billion, a P/E ratio of 16.14, a PEG ratio of 0.19 and a beta of 1.19.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. Ally Financial’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business earned $0.78 earnings per share. On average, sell-side analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial declared that its board has approved a share repurchase plan on Wednesday, December 10th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 15.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. Ally Financial’s payout ratio is presently 51.06%.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.