Harbour Investments Inc. Grows Holdings in Ally Financial Inc. (NYSE:ALLY)

Harbour Investments Inc. lifted its position in shares of Ally Financial Inc. (NYSE:ALLY) by 38.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,142 shares of the financial services provider’s stock after buying an additional 595 shares during the quarter. Harbour Investments Inc.’s holdings in Ally Financial were worth $77,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ALLY. Principal Securities Inc. increased its stake in Ally Financial by 89.4% in the fourth 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. Kestra Investment Management LLC acquired a new position in shares of Ally Financial during the 4th quarter valued at about $43,000. UMB Bank n.a. lifted its holdings in shares of Ally Financial by 218.8% during the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,061 shares during the period. Brooklyn Investment Group purchased a new stake in Ally Financial in the third quarter valued at approximately $63,000. Finally, Van ECK Associates Corp acquired a new position in Ally Financial during the fourth quarter worth approximately $85,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLY has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of Ally Financial from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Barclays upped their price target on Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. StockNews.com lowered Ally Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods increased their target price on shares of Ally Financial from $44.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Wolfe Research cut shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Ally Financial currently has an average rating of “Hold” and a consensus price target of $43.76.

Ally Financial Stock Up 1.1 %

Shares of NYSE:ALLY opened at $36.50 on Monday. The firm has a market cap of $11.21 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40. The company has a fifty day simple moving average of $36.99 and a 200 day simple moving average of $36.37. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. Ally Financial Inc. has a 12-month low of $31.95 and a 12-month high of $45.46.

Ally Financial (NYSE:ALLY) 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. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.02 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. On average, equities research analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.30 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.29%. Ally Financial’s payout ratio is 46.15%.

Insider Activity

In related news, CFO Russell E. Hutchinson bought 19,100 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was bought at an average cost of $39.45 per share, for a total transaction of $753,495.00. Following the completion of the purchase, the chief financial officer now directly owns 202,845 shares in the company, valued at approximately $8,002,235.25. The trade was a 10.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rhodes bought 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, with a total value of $1,002,033.06. Following the completion of the acquisition, the chief executive officer now directly owns 25,634 shares of the company’s stock, valued at approximately $1,002,033.06. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

About Ally Financial

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.