Pictet Asset Management Ltd. boosted its holdings in Ally Financial Inc (NYSE:ALLY) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,229 shares of the financial services provider’s stock after acquiring an additional 12,400 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Ally Financial were worth $6,010,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Usca Ria LLC bought a new position in shares of Ally Financial during the third quarter valued at $32,000. Liberty Wealth Management LLC bought a new stake in shares of Ally Financial in the third quarter worth approximately $37,000. Steward Partners Investment Advisory LLC bought a new position in Ally Financial during the second quarter valued at approximately $49,000. SG3 Management LLC purchased a new stake in Ally Financial in the second quarter worth approximately $73,000. Finally, Parallel Advisors LLC grew its position in Ally Financial by 28.2% in the 3rd quarter. Parallel Advisors LLC now owns 2,507 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 551 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.
ALLY has been the subject of a number of research reports. Citigroup decreased their target price on shares of Ally Financial from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Stephens raised Ally Financial from an “equal” rating to a “weight” rating and lifted their price objective for the stock from $37.00 to $44.00 in a report on Monday, September 9th. Piper Jaffray Companies set a $41.00 price objective on Ally Financial and gave the company a “buy” rating in a research report on Tuesday, September 10th. ValuEngine downgraded Ally Financial from a “sell” rating to a “strong sell” rating in a report on Monday, November 11th. Finally, Barclays raised their target price on Ally Financial from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Ally Financial presently has a consensus rating of “Hold” and an average price target of $36.58.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.03. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Ally Financial had a return on equity of 10.69% and a net margin of 26.29%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Equities analysts forecast that Ally Financial Inc will post 3.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Thursday, October 31st. Ally Financial’s payout ratio is 20.36%.
In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $33.43, for a total value of $74,281.46. Following the completion of the transaction, the chief accounting officer now directly owns 99,091 shares in the company, valued at $3,312,612.13. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.35% of the stock is owned by insiders.
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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