KSA Capital Management LLC lowered its position in Ally Financial Inc. (NYSE:ALLY) by 25.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the financial services provider’s stock after selling 5,000 shares during the period. Ally Financial comprises about 1.9% of KSA Capital Management LLC’s portfolio, making the stock its 13th largest position. KSA Capital Management LLC’s holdings in Ally Financial were worth $364,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in Ally Financial by 1.1% during the second quarter. Franklin Resources Inc. now owns 19,424,589 shares of the financial services provider’s stock worth $405,975,000 after buying an additional 209,001 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Ally Financial by 7.2% during the third quarter. JPMorgan Chase & Co. now owns 18,536,031 shares of the financial services provider’s stock worth $442,825,000 after purchasing an additional 1,251,678 shares during the period. Canada Pension Plan Investment Board boosted its position in Ally Financial by 36.6% during the second quarter. Canada Pension Plan Investment Board now owns 9,244,175 shares of the financial services provider’s stock worth $193,203,000 after purchasing an additional 2,476,190 shares during the period. Bank of New York Mellon Corp boosted its position in Ally Financial by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 8,683,736 shares of the financial services provider’s stock worth $210,668,000 after purchasing an additional 114,270 shares during the period. Finally, Wedge Capital Management L L P NC boosted its position in Ally Financial by 4.5% during the second quarter. Wedge Capital Management L L P NC now owns 7,536,055 shares of the financial services provider’s stock worth $157,504,000 after purchasing an additional 326,850 shares during the period.
A number of equities analysts have weighed in on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $32.00 target price on shares of Ally Financial in a research report on Thursday. BMO Capital Markets reiterated a “buy” rating and set a $26.00 target price on shares of Ally Financial in a research report on Friday, August 25th. Zacks Investment Research upgraded shares of Ally Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Tuesday, September 26th. Morgan Stanley increased their target price on shares of Ally Financial from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Finally, Goldman Sachs Group assumed coverage on shares of Ally Financial in a research report on Monday. They set a “buy” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.00.
Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.08. Ally Financial had a net margin of 14.75% and a return on equity of 7.72%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $0.56 earnings per share. equities research analysts anticipate that Ally Financial Inc. will post 2.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.48 annualized dividend and a yield of 1.72%. Ally Financial’s payout ratio is presently 22.22%.
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Ally Financial Company Profile
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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