Corsair Capital Management L.P. Has $2.96 Million Holdings in Ally Financial Inc (ALLY)
Corsair Capital Management L.P. lessened its holdings in shares of Ally Financial Inc (NYSE:ALLY) by 5.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 111,773 shares of the financial services provider’s stock after selling 6,324 shares during the quarter. Corsair Capital Management L.P.’s holdings in Ally Financial were worth $2,956,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Putnam Investments LLC raised its stake in shares of Ally Financial by 0.3% in the 2nd quarter. Putnam Investments LLC now owns 839,837 shares of the financial services provider’s stock worth $22,062,000 after buying an additional 2,225 shares in the last quarter. Legacy Financial Advisors Inc. raised its position in shares of Ally Financial by 58.1% during the third quarter. Legacy Financial Advisors Inc. now owns 6,152 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 2,261 shares during the period. Providence Capital Advisors LLC raised its position in shares of Ally Financial by 3.9% during the third quarter. Providence Capital Advisors LLC now owns 61,120 shares of the financial services provider’s stock worth $1,617,000 after purchasing an additional 2,291 shares during the period. First Republic Investment Management Inc. raised its position in shares of Ally Financial by 20.6% during the second quarter. First Republic Investment Management Inc. now owns 13,423 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 2,292 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Ally Financial by 3.0% during the third quarter. PNC Financial Services Group Inc. now owns 93,613 shares of the financial services provider’s stock worth $2,476,000 after purchasing an additional 2,733 shares during the period. Institutional investors own 98.90% of the company’s stock.
NYSE:ALLY opened at $25.25 on Friday. The firm has a market cap of $10.37 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 0.61 and a beta of 1.23. Ally Financial Inc has a 1-year low of $23.69 and a 1-year high of $31.29. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.48.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, October 31st. Ally Financial’s payout ratio is 25.10%.
In related news, CAO David J. Debrunner sold 25,000 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $26.35, for a total transaction of $658,750.00. Following the transaction, the chief accounting officer now directly owns 102,155 shares of the company’s stock, valued at $2,691,784.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by insiders.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research reaffirmed a “buy” rating and set a $27.00 target price on shares of Ally Financial in a research report on Monday, November 12th. Oppenheimer set a $32.00 target price on Ally Financial and gave the stock a “buy” rating in a research report on Thursday, October 25th. ValuEngine lowered Ally Financial from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Nomura cut their target price on Ally Financial from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, October 26th. Finally, Piper Jaffray Companies set a $34.00 target price on Ally Financial and gave the stock a “buy” rating in a research report on Monday, October 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. Ally Financial has a consensus rating of “Buy” and an average target price of $32.53.
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Ally Financial Profile
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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