(NYSE:ALLY) by 27.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,724,748 shares of the financial services provider's stock after selling 188,113 shares during the period.
A number of large investors have recently made changes to their positions in ALLY. Iridian Asset Management LLC CT acquired a new position in shares of Ally Financial during the first quarter valued at $143,806,000. Graybill Bartz & Assoc Ltd. raised its stake in shares of Ally Financial by 1.5% in the first quarter. Pacer Advisors Inc. now owns 10,728 shares of the financial services provider's stock valued at $218,000 after buying an additional 328 shares during the last quarter. Bank of New York Mellon Corp now owns 6,679,956 shares of the financial services provider's stock worth $135,803,000 after buying an additional 154,657 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Ally Financial during the first quarter worth $426,000. Banced Corp now owns 22,661 shares of the financial services provider's stock worth $474,000 after buying an additional 1,139 shares during the last quarter.
Despite the higher-than-expected results, Brown said Ally Financial is acting cautiously at a time when the consumer credit environment has increasingly become a concern.
Ally Financial (NYSE:ALLY) opened its previous trading session at $22.02 later Declining -1.45% to close its trade at a share price of $21.71. The stock's market capitalization is 9.97B, it has a 52-week low of 16.68 and a 52-week high of 23.62. Ally Financial Inc. (NYSE:ALLY) notched a 12-month high of $25.12 while $30.00 target is by far the most aggressive out of analysts who are now evaluating ALLY, $4.88 higher than the next highest 52-week price estimate. $24.18's average target is 11.38% above currents $21.71 stock price. The financial services provider reported $0.58 EPS for the quarter, beating the Zacks' consensus estimate of $0.53 by $0.05. Ally Financial had a return on equity of 7.63% and a net margin of 15.68%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion.
Weighted Alpha is used to calculate how much a share has gone up or down over a certain period, normally a year. On average, equities analysts anticipate that Ally Financial Inc. will post $2.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.12 per share. The dividend yield will be $2.19. The ex-dividend date of this dividend is Friday, July 28th. Ally Financial Inc. P/E (price to earnings) ratio is 9.79 and Forward P/E ratio of 8.27. This repurchase authorization allows the financial services provider to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued. (NYSE:ALLY) Worth Buying? If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of USA and global trademark & copyright laws. The original version of this news story can be accessed at https://www.baseball-news-blog.com/2017/07/27/state-street-corp-has-218-03-million-position-in-ally-financial-inc-nyseally-updated-updated-updated.html.
Sell-side analysts also have something to say about this ALLY. Finally, Piper Jaffray Companies began coverage on Ally Financial in a research note on Friday, June 9th. Stephens cut Ally Financial from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $23.00 to $20.00 in a report on Monday, July 17th. BMO Capital Markets reaffirmed a "buy" rating and set a $26.00 target price on shares of Ally Financial in a research note on Tuesday, April 25th. For now, ALLY is the toast of Wall Street as its ABR stands at 2.20 with 5 out of 18 analysts rating the stock a buy.
COPYRIGHT VIOLATION WARNING: "Ally Financial Inc". The Glenmede Trust Company Na holds 4,160 shares with $79,000 value, down from 57,981 last quarter. The Company operates through three segments: Automotive Finance operations, Insurance operations and Mortgage operations.