Edgestream Partners L.P. Buys New Stake in Ally Financial Inc. (NYSE:ALLY)

Edgestream Partners L.P. purchased a new position in shares of Ally Financial Inc. (NYSE:ALLY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 84,066 shares of the financial services provider’s stock, valued at approximately $3,027,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in Ally Financial by 0.5% during the 3rd quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock worth $380,981,000 after acquiring an additional 51,426 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Ally Financial by 233.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock worth $87,509,000 after purchasing an additional 1,701,264 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Ally Financial by 217.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock valued at $81,260,000 after purchasing an additional 1,563,008 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Ally Financial by 19.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,106,589 shares of the financial services provider’s stock valued at $74,974,000 after purchasing an additional 344,543 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Ally Financial by 4.7% in the third quarter. Jennison Associates LLC now owns 1,672,812 shares of the financial services provider’s stock valued at $59,535,000 after purchasing an additional 75,080 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Russell E. Hutchinson purchased 19,100 shares of the company’s stock in a transaction on Friday, January 24th. The shares were bought at an average price of $39.45 per share, with a total value of $753,495.00. Following the completion of the acquisition, the chief financial officer now owns 202,845 shares of the company’s stock, valued at approximately $8,002,235.25. This represents a 10.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael George Rhodes acquired 25,634 shares of the stock in a transaction on Monday, January 27th. The shares were purchased at an average price of $39.09 per share, for a total transaction of $1,002,033.06. Following the completion of the transaction, the chief executive officer now owns 25,634 shares in the company, valued at approximately $1,002,033.06. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALLY. Royal Bank of Canada increased their target price on shares of Ally Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Wolfe Research lowered Ally Financial from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Morgan Stanley boosted their target price on Ally Financial from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. StockNews.com lowered Ally Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price objective on Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.76.

Ally Financial Trading Down 0.9 %

ALLY stock opened at $34.68 on Friday. The business has a fifty day simple moving average of $37.22 and a 200-day simple moving average of $36.97. Ally Financial Inc. has a 52 week low of $31.95 and a 52 week high of $45.46. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.51. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.21. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.02 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. Ally Financial’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities research analysts expect that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.30 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.46%. Ally Financial’s payout ratio is currently 46.15%.

About Ally Financial

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.