2,261,811 Shares in Ally Financial Inc. $ALLY Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 2.26 million Ally Financial shares worth approximately $103.9 million, taking a 0.74% stake. Institutional investors collectively own 88.76% of Ally’s outstanding stock.
• Ally’s shares opened at $42.45, down 1.1%, while its latest quarterly results showed revenue of $2.28 billion—above estimates—but earnings per share of $1.21 slightly missed expectations.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $53.64. Ally also maintains a quarterly dividend of $0.30 per share, yielding about 2.8% annually.

Bank of New York Mellon Corp bought a new position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,261,811 shares of the financial services provider's stock, valued at approximately $103,930,000. Bank of New York Mellon Corp owned about 0.74% of Ally Financial at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State of Wyoming purchased a new position in Ally Financial in the 2nd quarter worth $3,195,000. Intech Investment Management LLC purchased a new stake in Ally Financial during the 4th quarter valued at about $3,926,000. Geode Capital Management LLC grew its stake in Ally Financial by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock valued at $243,795,000 after purchasing an additional 241,000 shares during the last quarter. Qsemble Capital Management LP increased its holdings in shares of Ally Financial by 136.0% in the fourth quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider's stock valued at $7,235,000 after purchasing an additional 92,043 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Ally Financial by 7.1% in the first quarter. Bank of America Corp DE now owns 2,889,620 shares of the financial services provider's stock valued at $113,360,000 after purchasing an additional 190,514 shares during the period. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Stock Down 1.1%

Shares of ALLY opened at $42.45 on Tuesday. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $12.91 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.27 and a beta of 1.10. The stock's 50-day moving average price is $44.76 and its 200-day moving average price is $42.64.

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

Ally Financial Announces Dividend

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

Insider Buying and Selling

In related news, insider Stephanie N. Richard sold 5,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the sale, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

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

Ally Financial Company Profile

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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