Jupiter Asset Management Ltd. recently acquired a new position in Ally Financial Inc. (NYSE:ALLY), one of the premier financial services providers, during the 4th quarter of 2022, as per its latest 13F filing with the Securities and Exchange Commission. The institutional investor now owns over 173,000 shares in the company, valued at $4,240,000. As of Jupiter Asset Management’s most recent SEC filings, they own roughly 0.06% of Ally Financial.
Ally Financial announced its earnings results for the first quarter of 2023 back on Wednesday, April 19th. According to the reports released by the company, it earned a profit per share amounting to $0.82 for the quarter- unfortunately short of meeting expert predictions by around ($0.06). In terms of revenue generation- which is anticipated to be as high as $2.07 billion- only brought in slightly above $2 billion during Q1.
Despite undershooting market estimates for this year’s first quarter results when compared with its previous year’s numbers- reflecting a revenue downturn figure by nearly -4%- Ally Financial remains steady and optimistic about its outlook for this fiscal year. The financial institution had previously posted positive figures well over $2 EPS during that same period last year.
Founded in Detroit in 1919, Ally Financial provides clients with online banking and investment advisory services through Automotive Finance Operations segment offerings such as retail installment sales contracts and loans alongside acquiring operating leases catering specifically to dealers with lines of available credit while monitoring fleet financing from various automotive retailers nationwide.
The Insurance Operations section provides full coverage insurance options such as life insurance policies available on request while Mortgage Finance Operations assist clients looking not just for a mortgage but also refinancing needs catered to according to their specific goals.
Furthermore, Corporate Finance Operations assist clients aspiring towards an expansion in operations uniting profitability through debt financing and raise capital through related financial services options. Corporate and Other is a miscellaneous category devoted to handling Ally’s wider range of business offerings catering to a broader audience.
Ally is at its core dedicated towards helping empower its customers through various banking and financing solutions- has consistently delivered the highest quality in its products throughout its long-standing history for over 100+ years since being founded. With continued growth, confidence and more, Ally Financial Inc.’s resolute optimism for exciting new horizons marks it as one of the leading players in the industry today.
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Investors Add and Reduce Investments in Ally Financial
Financial services provider Ally Financial has seen a number of large investors adding or reducing their investments in the firm, according to recent reports. The largest addition was made by State Street Corp, which raised its position in the firm’s shares by 3.3% during quarter one, adding 281,795 shares and taking its total holding to 8,749,404 shares. Other significant additions include Dimensional Fund Advisors LP raising its holdings by 4.4%, and Royal Bank of Canada increasing its stake in the company by 5.6%. Magnolia Group LLC increased its stake in Ally Financial by 9.4%. However, Glendon Capital Management LP only raised its holdings by 1.5% during Q1. At present, hedge funds and other institutional investors own approximately 90% of the company’s stock.
The company recently opened trading at $27.28 and operates with a market cap of $8.21bn and P/E ratio of 6.70 with a beta of 1.34.During quarter one this year the investment house also announced that it would be paying a quarterly dividend to shareholders who had invested before May 1st.
Ally Financial offers a range of financial services such as online banking, securities brokerage and investment advisory services with operations divided into five key segments covering automotive finance operations; insurance operations; mortgage finance operations; corporate finance operations and corporate and other.
While share prices have been fairly steady over recent months, with little momentum behind rises or decreases in value, analysts have expressed broadly neutral views on how well investors should predict returns from the stock in financial markets going forwards – though BMO Capital Markets did previously increase their price target from $47 to $51 back in January this year when issuing an ‘outperform’ rating for Ally Financial.
