Mackenzie Financial Corp Has $3.40 Million Position in Ally Financial Inc. (NYSE:ALLY)

Mackenzie Financial Corp increased its holdings in shares of Ally Financial Inc. (NYSE:ALLYGet Rating) by 12.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,400 shares of the financial services provider’s stock after acquiring an additional 11,496 shares during the period. Mackenzie Financial Corp’s holdings in Ally Financial were worth $3,398,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Salem Investment Counselors Inc. boosted its position in shares of Ally Financial by 115.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 345 shares in the last quarter. Tobam bought a new position in Ally Financial during the 2nd quarter valued at about $32,000. Truvestments Capital LLC bought a new position in Ally Financial during the 2nd quarter valued at about $33,000. Atticus Wealth Management LLC bought a new position in Ally Financial during the 2nd quarter valued at about $39,000. Finally, Institutional & Family Asset Management LLC bought a new position in Ally Financial during the 1st quarter valued at about $51,000. 91.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. S&P Equity Research set a $29.50 price target on shares of Ally Financial in a report on Monday, November 14th. Stephens cut their price target on shares of Ally Financial from $39.00 to $26.00 and set an “equal weight” rating for the company in a report on Thursday, October 20th. The Goldman Sachs Group cut their price target on shares of Ally Financial from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. Raymond James downgraded shares of Ally Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, October 6th. Finally, BMO Capital Markets dropped their target price on shares of Ally Financial from $66.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.42.

Ally Financial Stock Down 0.8 %

Shares of NYSE:ALLY opened at $26.01 on Monday. Ally Financial Inc. has a one year low of $24.83 and a one year high of $53.83. The company has a 50 day moving average of $28.70 and a 200-day moving average of $33.39. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 4.39, a P/E/G ratio of 0.13 and a beta of 1.29.

Ally Financial (NYSE:ALLYGet Rating) last issued its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $1.12 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.61). Ally Financial had a return on equity of 19.51% and a net margin of 24.78%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that Ally Financial Inc. will post 6.05 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Monday, October 31st. Ally Financial’s dividend payout ratio is 20.24%.

Insider Transactions at Ally Financial

In other news, Director Marjorie Magner acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The stock was purchased at an average price of $27.43 per share, for a total transaction of $54,860.00. Following the completion of the acquisition, the director now owns 55,603 shares in the company, valued at $1,525,190.29. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

Ally Financial Profile

(Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

Further Reading

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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