Waterfront Wealth Inc. grew its stake in Ally Financial Inc. (NYSE:ALLY – Get Rating) by 14.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,848 shares of the financial services provider’s stock after purchasing an additional 10,976 shares during the period. Ally Financial makes up about 0.9% of Waterfront Wealth Inc.’s holdings, making the stock its 26th largest holding. Waterfront Wealth Inc.’s holdings in Ally Financial were worth $2,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. State Street Corp grew its position in Ally Financial by 3.3% in the first quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock worth $380,424,000 after acquiring an additional 281,795 shares during the period. Royal Bank of Canada grew its position in Ally Financial by 5.6% in the first quarter. Royal Bank of Canada now owns 6,035,703 shares of the financial services provider’s stock worth $262,433,000 after acquiring an additional 320,049 shares during the period. Thrivent Financial for Lutherans grew its position in Ally Financial by 25.2% in the second quarter. Thrivent Financial for Lutherans now owns 3,924,412 shares of the financial services provider’s stock worth $131,507,000 after acquiring an additional 789,658 shares during the period. Magnolia Group LLC grew its position in Ally Financial by 9.6% in the third quarter. Magnolia Group LLC now owns 3,115,000 shares of the financial services provider’s stock worth $86,690,000 after acquiring an additional 271,776 shares during the period. Finally, Glendon Capital Management LP grew its position in Ally Financial by 1.5% in the first quarter. Glendon Capital Management LP now owns 2,485,472 shares of the financial services provider’s stock worth $108,068,000 after acquiring an additional 37,083 shares during the period. 90.35% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ALLY has been the subject of several analyst reports. TheStreet lowered Ally Financial from a “b-” rating to a “c+” rating in a research report on Wednesday, October 19th. Piper Sandler upgraded Ally Financial from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $25.00 to $28.00 in a research note on Monday, January 9th. BMO Capital Markets decreased their price target on Ally Financial from $66.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Jefferies Financial Group cut Ally Financial from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $25.00 in a research note on Tuesday, January 10th. Finally, Stephens decreased their price target on Ally Financial from $39.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 20th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.97.
Insiders Place Their Bets
In other news, Director Marjorie Magner acquired 2,000 shares of the company’s stock in a transaction on Tuesday, October 25th. The shares were bought at an average price of $27.43 per share, with a total value of $54,860.00. Following the completion of the acquisition, the director now owns 55,603 shares in the company, valued at approximately $1,525,190.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.
Ally Financial Stock Up 0.1 %
Ally Financial stock opened at $27.06 on Friday. Ally Financial Inc. has a 1-year low of $22.34 and a 1-year high of $52.92. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market cap of $8.08 billion, a PE ratio of 4.56 and a beta of 1.27. The stock’s fifty day moving average is $25.65 and its two-hundred day moving average is $29.69.
Ally Financial (NYSE:ALLY – Get Rating) last issued its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.61). The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Ally Financial had a return on equity of 19.51% and a net margin of 24.78%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 EPS. On average, sell-side analysts expect that Ally Financial Inc. will post 5.99 EPS for the current fiscal year.
Ally Financial Company Profile
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Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
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