Malaga Cove Capital LLC Has $872,000 Stake in Ally Financial Inc (NYSE:ALLY)

Malaga Cove Capital LLC lessened its position in Ally Financial Inc (NYSE:ALLY) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,733 shares of the financial services provider’s stock after selling 1,000 shares during the period. Malaga Cove Capital LLC’s holdings in Ally Financial were worth $872,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ALLY. LaSalle Street Capital Management LLC grew its holdings in Ally Financial by 0.6% during the 4th quarter. LaSalle Street Capital Management LLC now owns 66,608 shares of the financial services provider’s stock worth $1,509,000 after acquiring an additional 392 shares during the last quarter. Saturna Capital CORP boosted its stake in shares of Ally Financial by 1.1% in the 4th quarter. Saturna Capital CORP now owns 45,125 shares of the financial services provider’s stock valued at $1,023,000 after purchasing an additional 500 shares during the last quarter. M&T Bank Corp boosted its stake in Ally Financial by 5.3% during the fourth quarter. M&T Bank Corp now owns 10,797 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 539 shares in the last quarter. Private Capital Group LLC boosted its stake in Ally Financial by 53.5% during the fourth quarter. Private Capital Group LLC now owns 1,820 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 634 shares in the last quarter. Finally, Standard Life Aberdeen plc boosted its stake in Ally Financial by 0.5% during the fourth quarter. Standard Life Aberdeen plc now owns 148,501 shares of the financial services provider’s stock worth $3,321,000 after acquiring an additional 684 shares in the last quarter.

NYSE:ALLY opened at $29.91 on Friday. Ally Financial Inc has a twelve month low of $20.60 and a twelve month high of $30.27. The firm has a market capitalization of $11.93 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.59 and a beta of 1.38. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 3.33.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. Ally Financial had a return on equity of 11.01% and a net margin of 23.12%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned $0.68 EPS. Ally Financial’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, analysts predict that Ally Financial Inc will post 3.62 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Tuesday, April 30th. Ally Financial’s payout ratio is currently 20.36%.

Ally Financial announced that its Board of Directors has authorized a stock repurchase program on Monday, April 1st that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 10.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Ally Financial from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Thursday, April 11th. ValuEngine upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. BTIG Research began coverage on shares of Ally Financial in a research report on Thursday, January 24th. Oppenheimer set a $33.00 price objective on shares of Ally Financial and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, BMO Capital Markets raised their target price on shares of Ally Financial to $39.00 and gave the company a “market perform” rating in a research note on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Ally Financial has a consensus rating of “Buy” and a consensus target price of $32.85.

In other news, Director Mayree C. Clark bought 5,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $29.71 per share, for a total transaction of $148,550.00. Following the transaction, the director now owns 46,248 shares of the company’s stock, valued at $1,374,028.08. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO David J. Debrunner sold 2,222 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $27.73, for a total value of $61,616.06. Following the sale, the chief accounting officer now owns 112,423 shares in the company, valued at approximately $3,117,489.79. The disclosure for this sale can be found here. Insiders sold a total of 101,755 shares of company stock valued at $2,756,202 over the last 90 days. 0.35% of the stock is currently owned by corporate insiders.

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Ally Financial Profile

Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, 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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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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