Glendon Capital Management LP Has $91.66 Million Stock Holdings in Ally Financial Inc. $ALLY
by Danessa Lincoln · The Markets DailyGlendon Capital Management LP cut its stake in Ally Financial Inc. (NYSE:ALLY – Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,338,333 shares of the financial services provider’s stock after selling 147,139 shares during the quarter. Ally Financial accounts for about 5.0% of Glendon Capital Management LP’s portfolio, making the stock its 6th biggest position. Glendon Capital Management LP owned approximately 0.76% of Ally Financial worth $91,663,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Allworth Financial LP grew its holdings in Ally Financial by 385.2% during the second quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock worth $29,000 after buying an additional 597 shares in the last quarter. Mather Group LLC. purchased a new position in Ally Financial during the 3rd quarter worth $31,000. Hantz Financial Services Inc. boosted its holdings in Ally Financial by 662.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 715 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of Ally Financial by 116.8% in the 2nd quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 451 shares in the last quarter. Finally, MAI Capital Management raised its holdings in shares of Ally Financial by 45.1% in the second quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.
Ally Financial Price Performance
Ally Financial stock opened at $39.68 on Tuesday. The business’s 50 day simple moving average is $43.18 and its 200 day simple moving average is $41.69. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $47.27. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 0.20 and a beta of 1.19. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30.
Ally Financial (NYSE:ALLY – Get Free Report) last released its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.
Ally Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, February 2nd. Ally Financial’s payout ratio is currently 51.06%.
Ally Financial announced that its Board of Directors has initiated a share buyback program on Wednesday, December 10th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 15.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 target price on shares of Ally Financial in a research note on Tuesday, January 6th. Weiss Ratings downgraded Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Barclays lifted their price target on Ally Financial from $44.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $52.00 price objective on shares of Ally Financial in a research note on Monday, January 12th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ally Financial currently has an average rating of “Moderate Buy” and a consensus target price of $50.31.
Check Out Our Latest Stock Report on Ally Financial
Insider Activity
In other Ally Financial news, CFO Russell E. Hutchinson bought 11,566 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was purchased at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the transaction, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael George Rhodes acquired 23,800 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was purchased at an average price of $41.68 per share, with a total value of $991,984.00. Following the completion of the transaction, the chief executive officer directly owned 49,434 shares of the company’s stock, valued at $2,060,409.12. This trade represents a 92.85% increase in their position. The SEC filing for this purchase provides additional information. 0.56% of the stock is owned by corporate insiders.
Ally Financial Company Profile
Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.
In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.
See Also
- Five stocks we like better than Ally Financial
- The gold chart Wall Street is terrified of…
- America’s 1776 happening again
- Buy this Gold Stock Before May 2026
- I’m 70 With $1.5M: Would Converting $120K a Year to a Roth Be Smart or a Costly Mistake? (Ask An Advisor)
- ALERT: Drop these 5 stocks before the market opens tomorrow!
Want to see what other hedge funds are holding ALLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ally Financial Inc. (NYSE:ALLY – Free Report).