Havemeyer Place LP Acquires New Holdings in Ally Financial Inc. $ALLY

Havemeyer Place LP acquired a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,213 shares of the financial services provider’s stock, valued at approximately $825,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in Ally Financial in the fourth quarter worth approximately $157,610,000. Wellington Management Group LLP raised its position in Ally Financial by 19.6% in the third quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock worth $467,996,000 after acquiring an additional 1,958,201 shares during the period. Qube Research & Technologies Ltd raised its position in Ally Financial by 8,255.7% in the third quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock worth $48,231,000 after acquiring an additional 1,215,659 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new position in Ally Financial in the third quarter worth approximately $45,733,000. Finally, Bank of America Corp DE raised its position in Ally Financial by 38.9% in the second quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock worth $146,888,000 after acquiring an additional 1,056,060 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction on Friday, May 15th. The shares were sold at an average price of $42.14, for a total value of $210,700.00. Following the sale, the insider directly owned 93,927 shares in the company, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the completion of the sale, the insider owned 477,627 shares in the company, valued at approximately $21,574,411.59. This represents a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley increased their price target on shares of Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. decreased their price target on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Barclays increased their price target on shares of Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Finally, The Goldman Sachs Group increased their price target on shares of Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.14.

Ally Financial Stock Performance

Shares of NYSE ALLY opened at $42.31 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $12.97 billion, a P/E ratio of 10.32, a P/E/G ratio of 0.26 and a beta of 1.10. The firm’s fifty day moving average is $42.44 and its two-hundred day moving average is $42.18. Ally Financial Inc. has a 52-week low of $35.90 and a 52-week high of $47.27.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. Ally Financial’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. As a group, analysts anticipate that Ally Financial Inc. will post 5.28 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, May 1st. Ally Financial’s payout ratio is currently 29.27%.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.