383,311 Shares in Ally Financial Inc. $ALLY Bought by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management initiated a 383,311-share Ally Financial position worth approximately $17.6 million, while institutional investors overall own 88.76% of the company.
• Analyst sentiment remains favorable: 14 analysts rate Ally a Buy and two rate it Hold, producing a consensus “Moderate Buy” rating and a $53.64 target price.
• Ally reported $2.28 billion in quarterly revenue, up 9.8% year over year, although EPS of $1.21 narrowly missed estimates. The company also paid a quarterly dividend of $0.30 per share, representing a 2.8% yield.

Tocqueville Asset Management L.P. bought a new stake in Ally Financial Inc. (NYSE:ALLY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 383,311 shares of the financial services provider's stock, valued at approximately $17,613,000. Tocqueville Asset Management L.P. owned about 0.13% of Ally Financial at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Ally Financial in the 2nd quarter worth about $1,315,659,000. Norges Bank purchased a new stake in shares of Ally Financial during the 4th quarter worth about $157,610,000. Wellington Management Group LLP grew its holdings in shares of Ally Financial by 19.5% during the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider's stock worth $646,347,000 after purchasing an additional 2,332,610 shares during the period. Bank of New York Mellon Corp acquired a new stake in Ally Financial during the 2nd quarter worth approximately $103,930,000. Finally, Qube Research & Technologies Ltd increased its position in Ally Financial by 8,255.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider's stock worth $48,231,000 after purchasing an additional 1,215,659 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALLY. Weiss Ratings raised shares of Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada increased their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Bank of America lifted their target price on shares of Ally Financial from $52.00 to $53.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Wells Fargo & Company lifted their target price on shares of Ally Financial from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Finally, Wall Street Zen cut shares of Ally Financial from a "buy" rating to a "hold" rating in a research report on Monday, June 8th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.64.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the transaction, the insider directly owned 88,927 shares of the company's stock, valued at $3,933,241.21. This represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Ally Financial Stock Down 1.1%

NYSE ALLY opened at $43.15 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The business has a 50 day moving average price of $44.87 and a two-hundred day moving average price of $42.63. The stock has a market cap of $13.12 billion, a PE ratio of 10.18, a P/E/G ratio of 0.27 and a beta of 1.10.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The firm had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter in the prior year, the business earned $0.99 EPS. The company's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Ally Financial Inc. will post 5.19 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial's payout ratio is 28.30%.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.

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