Prudential Financial Inc. Acquires 756,795 Shares of Ally Financial Inc (ALLY)

Prudential Financial Inc. increased its holdings in shares of Ally Financial Inc (NYSE:ALLY) by 144.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,278,941 shares of the financial services provider’s stock after purchasing an additional 756,795 shares during the period. Prudential Financial Inc.’s holdings in Ally Financial were worth $33,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its position in Ally Financial by 8.8% during the second quarter. BlackRock Inc. now owns 26,537,339 shares of the financial services provider’s stock valued at $697,136,000 after buying an additional 2,148,484 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Ally Financial by 8.4% in the second quarter. Canada Pension Plan Investment Board now owns 9,020,275 shares of the financial services provider’s stock valued at $236,963,000 after purchasing an additional 700,000 shares during the period. LSV Asset Management grew its position in shares of Ally Financial by 5.4% in the third quarter. LSV Asset Management now owns 4,375,957 shares of the financial services provider’s stock valued at $115,744,000 after purchasing an additional 223,878 shares during the period. Canyon Capital Advisors LLC grew its position in shares of Ally Financial by 0.4% in the second quarter. Canyon Capital Advisors LLC now owns 3,867,124 shares of the financial services provider’s stock valued at $101,589,000 after purchasing an additional 14,900 shares during the period. Finally, Northern Trust Corp grew its position in shares of Ally Financial by 1.9% in the second quarter. Northern Trust Corp now owns 3,578,476 shares of the financial services provider’s stock valued at $94,008,000 after purchasing an additional 66,832 shares during the period. 98.21% of the stock is owned by hedge funds and other institutional investors.

ALLY opened at $24.56 on Friday. The stock has a market cap of $10.15 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.60 and a beta of 1.23. Ally Financial Inc has a twelve month low of $23.69 and a twelve month high of $31.29. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.48.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Ally Financial had a net margin of 16.87% and a return on equity of 10.25%. Equities analysts predict that Ally Financial Inc will post 3.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, October 31st. This represents a $0.60 dividend on an annualized basis and a yield of 2.44%. Ally Financial’s payout ratio is presently 25.10%.

ALLY has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Ally Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Piper Jaffray Companies set a $34.00 target price on shares of Ally Financial and gave the company a “buy” rating in a research report on Monday, October 29th. Oppenheimer set a $35.00 target price on shares of Ally Financial and gave the company a “buy” rating in a research report on Thursday, October 4th. Nomura dropped their target price on shares of Ally Financial from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, October 26th. Finally, ValuEngine lowered shares of Ally Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.50.

TRADEMARK VIOLATION NOTICE: This news story was posted by WKRB News and is the sole property of of WKRB News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.wkrb13.com/2018/11/23/prudential-financial-inc-acquires-756795-shares-of-ally-financial-inc-ally.html.

Ally Financial Profile

Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

See Also: How analysts view the yield curve

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).

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

Receive News & Ratings for Ally Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ally Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply