Bank of New York Mellon Corp Sells 1,294,222 Shares of Ally Financial Inc. (NYSE:ALLY)

Bank of New York Mellon Corp decreased its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 37.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,184,954 shares of the financial services provider's stock after selling 1,294,222 shares during the quarter. Bank of New York Mellon Corp owned 0.72% of Ally Financial worth $78,680,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc increased its position in Ally Financial by 1.9% in the third quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider's stock worth $557,000 after buying an additional 293 shares during the period. Maverick Capital Ltd. grew its position in shares of Ally Financial by 1.2% during the third quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider's stock worth $930,000 after acquiring an additional 299 shares during the last quarter. Waterfront Wealth Inc. increased its holdings in shares of Ally Financial by 0.8% in the 4th quarter. Waterfront Wealth Inc. now owns 50,924 shares of the financial services provider's stock worth $1,834,000 after acquiring an additional 389 shares during the period. Principal Securities Inc. lifted its position in Ally Financial by 89.4% in the 4th quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 496 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 577 shares during the period. 88.76% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Activity

In related news, CFO Russell E. Hutchinson purchased 19,100 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was bought at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the purchase, the chief financial officer now owns 202,845 shares in the company, valued at $8,002,235.25. The trade was a 10.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael George Rhodes acquired 25,634 shares of the stock in a transaction dated Monday, January 27th. The shares were bought at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the acquisition, the chief executive officer now owns 25,634 shares in the company, valued at $1,002,033.06. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is owned by corporate insiders.

Ally Financial Stock Down 2.5 %

Shares of NYSE ALLY traded down $0.89 during mid-day trading on Friday, reaching $34.12. The company had a trading volume of 2,654,458 shares, compared to its average volume of 3,636,448. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.32 and a beta of 1.40. The stock has a fifty day moving average of $37.24 and a two-hundred day moving average of $37.06. Ally Financial Inc. has a 12-month low of $31.95 and a 12-month high of $45.46.

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

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, January 31st. Ally Financial's dividend payout ratio (DPR) is presently 46.15%.

Wall Street Analysts Forecast Growth

ALLY has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Ally Financial from $40.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods raised their target price on Ally Financial from $44.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Morgan Stanley boosted their price target on Ally Financial from $41.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Jefferies Financial Group raised their price target on Ally Financial from $35.00 to $40.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada upped their price objective 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $43.76.

Ally Financial Company Profile

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.