DnB Asset Management AS Has $1.73 Million Position in Ally Financial Inc. (NYSE:ALLY)

DnB Asset Management AS lifted its stake in Ally Financial Inc. (NYSE:ALLY) by 4.3% during the fourth quarter, HoldingsChannel reports. The fund owned 48,010 shares of the financial services provider’s stock after purchasing an additional 1,995 shares during the quarter. DnB Asset Management AS’s holdings in Ally Financial were worth $1,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ALLY. Oak Thistle LLC acquired a new position in Ally Financial in the 4th quarter worth about $1,112,000. Point72 Asset Management L.P. bought a new stake in shares of Ally Financial in the 3rd quarter valued at approximately $21,571,000. State Street Corp increased its holdings in Ally Financial by 0.5% in the third quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock worth $380,981,000 after buying an additional 51,426 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in Ally Financial during the fourth quarter valued at approximately $461,000. Finally, Franklin Resources Inc. lifted its stake in Ally Financial by 184.7% in the third quarter. Franklin Resources Inc. now owns 532,090 shares of the financial services provider’s stock valued at $19,044,000 after acquiring an additional 345,210 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Russell E. Hutchinson bought 19,100 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was acquired at an average cost of $39.45 per share, with a total value of $753,495.00. Following the acquisition, the chief financial officer now owns 202,845 shares in the company, valued at approximately $8,002,235.25. This represents a 10.39 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael George Rhodes bought 25,634 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average price of $39.09 per share, with a total value of $1,002,033.06. Following the transaction, the chief executive officer now directly owns 25,634 shares in the company, valued at $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALLY shares. StockNews.com downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Barclays raised their target price on Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Jefferies Financial Group upped their price target on Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price objective on Ally Financial from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group upped their target price on Ally Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.65.

Ally Financial Stock Performance

NYSE ALLY opened at $36.64 on Wednesday. The company’s fifty day moving average is $37.05 and its two-hundred day moving average is $36.43. Ally Financial Inc. has a 52-week low of $31.95 and a 52-week high of $45.46. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $11.25 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.02 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.45 earnings per share. Equities research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.30 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.27%. Ally Financial’s payout ratio is 46.15%.

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.