Algert Global LLC Has $1.76 Million Position in Ally Financial Inc. $ALLY

Key Points

• Algert Global LLC significantly increased its stake in Ally Financial Inc. by acquiring 37,360 shares, bringing its total holdings to 48,355 shares valued at approximately $1.76 million.
• Ally Financial reported better-than-expected quarterly earnings of $0.99 per share, surpassing the consensus estimate by $0.21, and achieved a revenue of $2.08 billion.
• The company declared a quarterly dividend of $0.30 per share, reflecting an annual yield of 3.1% and a payout ratio of 77.92%.

Algert Global LLC grew its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 339.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,355 shares of the financial services provider's stock after acquiring an additional 37,360 shares during the quarter. Algert Global LLC's holdings in Ally Financial were worth $1,764,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in Ally Financial in the 1st quarter valued at $1,998,000. Teacher Retirement System of Texas acquired a new position in Ally Financial in the 1st quarter valued at $1,462,000. Bessemer Group Inc. raised its holdings in Ally Financial by 59.6% in the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 377 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Ally Financial by 56.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock valued at $2,466,000 after acquiring an additional 24,372 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Ally Financial by 40.6% in the 1st quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock valued at $120,000 after acquiring an additional 952 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

Ally Financial Price Performance

Shares of Ally Financial stock traded up $0.34 during trading on Wednesday, reaching $41.10. 2,575,455 shares of the company's stock were exchanged, compared to its average volume of 2,604,457. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $43.22. The company has a market cap of $12.65 billion, a P/E ratio of 26.69, a PEG ratio of 0.32 and a beta of 1.16. The firm's 50-day moving average price is $38.96 and its 200 day moving average price is $36.34.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.21. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The company had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the firm earned $0.97 EPS. Ally Financial's revenue was up 3.0% on a year-over-year basis. As a group, research analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial's dividend payout ratio is presently 77.92%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALLY. Morgan Stanley reaffirmed an "overweight" rating and issued a $47.00 price objective (up from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on shares of Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Truist Financial increased their price target on shares of Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Finally, BTIG Research raised Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $42.80.

Ally Financial 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.