JPMorgan Chase & Co. lowered its stake in shares of Ally Financial Inc (NYSE:ALLY) by 41.7% in the 1st quarter, Holdings Channel reports. The firm owned 6,936,015 shares of the financial services provider’s stock after selling 4,968,821 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ally Financial were worth $190,671,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Ally Financial in the first quarter worth approximately $31,000. Private Capital Group LLC lifted its stake in shares of Ally Financial by 53.5% in the fourth quarter. Private Capital Group LLC now owns 1,820 shares of the financial services provider’s stock worth $41,000 after buying an additional 634 shares in the last quarter. Enlightenment Research LLC bought a new position in shares of Ally Financial in the fourth quarter worth approximately $54,000. Truvestments Capital LLC bought a new position in shares of Ally Financial in the first quarter worth approximately $74,000. Finally, Kinneret Advisory LLC bought a new position in Ally Financial during the fourth quarter valued at approximately $121,000.
ALLY has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley upped their target price on shares of Ally Financial from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Sandler O’Neill raised shares of Ally Financial from a “hold” rating to a “buy” rating and upped their target price for the company from $29.00 to $33.00 in a report on Tuesday, February 26th. They noted that the move was a valuation call. BMO Capital Markets upped their target price on shares of Ally Financial to $39.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. Finally, Oppenheimer set a $33.00 target price on shares of Ally Financial and gave the company a “buy” rating in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $32.92.
Shares of NYSE ALLY opened at $29.76 on Wednesday. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $11.76 billion, a PE ratio of 8.91, a PEG ratio of 0.58 and a beta of 1.38. Ally Financial Inc has a 1 year low of $20.60 and a 1 year high of $30.27.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.01. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Ally Financial had a net margin of 23.12% and a return on equity of 10.90%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. As a group, research analysts predict that Ally Financial Inc will post 3.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.17 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.28%. Ally Financial’s dividend payout ratio (DPR) is presently 20.36%.
Ally Financial declared that its board has authorized a stock buyback plan on Monday, April 1st that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 10.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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About Ally Financial
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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