Freestone Grove Partners LP Buys New Stake in Ally Financial Inc. (NYSE:ALLY)

Freestone Grove Partners LP purchased a new position in Ally Financial Inc. (NYSE:ALLY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 454,894 shares of the financial services provider's stock, valued at approximately $16,381,000. Freestone Grove Partners LP owned approximately 0.15% of Ally Financial at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ALLY. Virtu Financial LLC bought a new stake in shares of Ally Financial in the 3rd quarter valued at approximately $450,000. Tidal Investments LLC lifted its position in Ally Financial by 5.8% during the 3rd quarter. Tidal Investments LLC now owns 25,999 shares of the financial services provider's stock worth $925,000 after acquiring an additional 1,416 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Ally Financial by 184.7% in the third quarter. Franklin Resources Inc. now owns 532,090 shares of the financial services provider's stock worth $19,044,000 after purchasing an additional 345,210 shares during the period. Everence Capital Management Inc. bought a new stake in Ally Financial during the 4th quarter valued at approximately $297,000. Finally, Oak Thistle LLC acquired a new stake in Ally Financial in the 4th quarter valued at approximately $1,112,000. Hedge funds and other institutional investors own 88.76% of the company's stock.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, CFO Russell E. Hutchinson purchased 8,200 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was purchased at an average price of $30.81 per share, with a total value of $252,642.00. Following the transaction, the chief financial officer now owns 236,421 shares of the company's stock, valued at approximately $7,284,131.01. This trade represents a 3.59 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie N. Richard sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total value of $257,120.00. Following the completion of the sale, the insider now owns 90,387 shares in the company, valued at approximately $2,905,038.18. This represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company's stock.

Ally Financial Price Performance

Ally Financial stock traded up $0.26 during midday trading on Wednesday, hitting $32.80. 453,593 shares of the company's stock were exchanged, compared to its average volume of 3,526,621. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $45.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $10.07 billion, a P/E ratio of 12.65, a PEG ratio of 0.32 and a beta of 1.14. The stock has a 50-day moving average price of $33.87 and a two-hundred day moving average price of $35.95.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.15. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $2.04 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. During the same quarter in the prior year, the company earned $0.45 EPS. On average, equities research analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.66%. Ally Financial's payout ratio is 88.24%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ALLY shares. JPMorgan Chase & Co. reduced their price objective on Ally Financial from $43.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com lowered shares of Ally Financial from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Jefferies Financial Group raised their price target on Ally Financial from $35.00 to $40.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. Wells Fargo & Company decreased their price objective on Ally Financial from $34.00 to $32.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Finally, BTIG Research cut shares of Ally Financial from a "neutral" rating to a "sell" rating and set a $30.00 price target on the stock. in a research report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $41.69.

Ally Financial Company Profile

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.