Icon Advisers Inc. Co. decreased its position in shares of Ally Financial Inc (NYSE:ALLY) by 19.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,400 shares of the financial services provider’s stock after selling 6,700 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Ally Financial were worth $849,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ALLY. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Ally Financial in the 1st quarter valued at $31,000. Carroll Financial Associates Inc. acquired a new stake in Ally Financial in the 2nd quarter valued at $40,000. Steward Partners Investment Advisory LLC acquired a new stake in Ally Financial in the 2nd quarter valued at $49,000. Private Capital Group LLC grew its stake in Ally Financial by 69.8% in the 1st quarter. Private Capital Group LLC now owns 3,090 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 1,270 shares during the period. Finally, Creative Planning acquired a new stake in Ally Financial in the 2nd quarter valued at $213,000. 96.94% of the stock is currently owned by institutional investors and hedge funds.
In other news, CAO David J. Debrunner sold 2,222 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $32.89, for a total transaction of $73,081.58. Following the completion of the sale, the chief accounting officer now owns 103,535 shares in the company, valued at $3,405,266.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Diane E. Morais sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $33.35, for a total value of $500,250.00. Following the sale, the insider now owns 220,048 shares of the company’s stock, valued at approximately $7,338,600.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,666 shares of company stock worth $706,918. Insiders own 0.35% of the company’s stock.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. Ally Financial had a return on equity of 10.89% and a net margin of 26.59%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Sell-side analysts predict that Ally Financial Inc will post 3.74 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.21%. Ally Financial’s dividend payout ratio is presently 20.36%.
A number of research firms recently issued reports on ALLY. Zacks Investment Research cut shares of Ally Financial from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a research note on Tuesday, July 2nd. Barclays restated a “buy” rating on shares of Ally Financial in a report on Sunday, July 21st. Nomura raised their price objective on Ally Financial from $29.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Morgan Stanley raised their price objective on Ally Financial from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Finally, Wells Fargo & Co restated a “buy” rating on shares of Ally Financial in a report on Sunday, July 21st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $35.00.
Ally Financial Company Profile
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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