Van ECK Associates Corp Purchases 489 Shares of Ally Financial Inc. (NYSE:ALLY)

Van ECK Associates Corp grew its position in Ally Financial Inc. (NYSE:ALLYGet Rating) by 11.7% during the third quarter, Holdings Channel reports. The institutional investor owned 4,654 shares of the financial services provider’s stock after acquiring an additional 489 shares during the quarter. Van ECK Associates Corp’s holdings in Ally Financial were worth $130,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Private Trust Co. NA boosted its holdings in shares of Ally Financial by 99.8% in the 3rd quarter. Private Trust Co. NA now owns 891 shares of the financial services provider’s stock valued at $25,000 after buying an additional 445 shares in the last quarter. Syverson Strege & Co acquired a new stake in Ally Financial in the 2nd quarter worth approximately $26,000. Denali Advisors LLC acquired a new stake in Ally Financial in the 3rd quarter worth approximately $28,000. Salem Investment Counselors Inc. boosted its stake in Ally Financial by 115.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 345 shares in the last quarter. Finally, Tobam acquired a new stake in Ally Financial in the 2nd quarter worth approximately $32,000. 90.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALLY has been the subject of a number of recent analyst reports. Bank of America cut shares of Ally Financial from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $35.00 to $26.00 in a research note on Thursday, January 5th. Keefe, Bruyette & Woods lowered their target price on shares of Ally Financial from $47.00 to $38.00 in a research note on Wednesday, October 19th. Jefferies Financial Group cut shares of Ally Financial from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $25.00 in a research note on Tuesday, January 10th. Compass Point cut shares of Ally Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 26th. Finally, StockNews.com cut shares of Ally Financial from a “hold” rating to a “sell” rating in a research note on Monday, December 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.97.

Ally Financial Price Performance

NYSE:ALLY opened at $26.19 on Friday. 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 firm has a market cap of $7.82 billion, a price-to-earnings ratio of 4.42 and a beta of 1.27. The company has a 50 day moving average price of $25.69 and a 200-day moving average price of $29.52. Ally Financial Inc. has a 1-year low of $22.34 and a 1-year high of $51.05.

Ally Financial (NYSE:ALLYGet Rating) last posted its earnings results on Wednesday, October 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.61). The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Ally Financial had a net margin of 24.78% and a return on equity of 19.51%. Ally Financial’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $2.16 earnings per share. Equities research analysts forecast that Ally Financial Inc. will post 5.99 EPS for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.58%. The ex-dividend date is Tuesday, January 31st. Ally Financial’s payout ratio is presently 20.24%.

Insider Buying and Selling

In related news, Director Marjorie Magner purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The stock was bought at an average price of $27.43 per share, with a total value of $54,860.00. Following the acquisition, the director now owns 55,603 shares in the company, valued at $1,525,190.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is owned by insiders.

About Ally Financial

(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.

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

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