SG Americas Securities LLC raised its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 104.0% during the first quarter, Holdings Channel reports. The institutional investor owned 41,262 shares of the financial services provider’s stock after buying an additional 21,038 shares during the period. SG Americas Securities LLC’s holdings in Ally Financial were worth $839,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. FTB Advisors Inc. raised its stake in shares of Ally Financial by 35.8% in the first quarter. FTB Advisors Inc. now owns 5,773 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,523 shares in the last quarter. Creative Planning raised its stake in shares of Ally Financial by 385.0% in the first quarter. Creative Planning now owns 6,299 shares of the financial services provider’s stock valued at $128,000 after buying an additional 8,509 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of Ally Financial by 27.3% in the first quarter. First Mercantile Trust Co. now owns 9,800 shares of the financial services provider’s stock valued at $199,000 after buying an additional 2,100 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Ally Financial by 3.2% in the first quarter. Pacer Advisors Inc. now owns 10,728 shares of the financial services provider’s stock valued at $218,000 after buying an additional 328 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Ally Financial during the fourth quarter valued at approximately $212,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.
Shares of Ally Financial Inc. (ALLY) opened at 20.37 on Friday. The firm’s 50-day moving average price is $19.28 and its 200 day moving average price is $20.29. Ally Financial Inc. has a 12 month low of $14.84 and a 12 month high of $23.62. The firm has a market capitalization of $9.77 billion, a P/E ratio of 9.58 and a beta of 1.40.
Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.01. Ally Financial had a net margin of 15.68% and a return on equity of 7.63%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company earned $0.52 EPS. Analysts anticipate that Ally Financial Inc. will post $2.26 earnings per share for the current fiscal year.
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Several brokerages have recently commented on ALLY. BidaskClub upgraded Ally Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday. Piper Jaffray Companies initiated coverage on Ally Financial in a research report on Friday, June 9th. They issued an “overweight” rating and a $25.00 target price on the stock. TheStreet raised Ally Financial from a “c” rating to a “b-” rating in a research report on Monday, February 27th. Sandler O’Neill downgraded Ally Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 28th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $26.00 target price on shares of Ally Financial in a research report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $24.77.
About Ally Financial
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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