Alliancebernstein L.P. Boosts Position in Ally Financial Inc. $ALLY

Key Points

• Alliancebernstein L.P. has increased its position in Ally Financial by 23.3%, owning 587,226 shares worth approximately $21.42 million as of the latest quarter.
• Ally Financial reported earnings per share of $0.99 for the last quarter, exceeding analysts' expectations and showing a 3.0% increase in revenue compared to the same quarter last year.
• The company has recently announced a quarterly dividend of $0.30 per share, resulting in an annualized dividend yield of 2.9%.

Alliancebernstein L.P. increased its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 23.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 587,226 shares of the financial services provider's stock after acquiring an additional 111,114 shares during the quarter. Alliancebernstein L.P. owned about 0.19% of Ally Financial worth $21,416,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Tidal Investments LLC lifted its position in Ally Financial by 1.1% during the fourth quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider's stock valued at $946,000 after purchasing an additional 280 shares during the last quarter. EP Wealth Advisors LLC lifted its position in Ally Financial by 4.9% during the fourth quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider's stock valued at $229,000 after purchasing an additional 297 shares during the last quarter. Signet Financial Management LLC lifted its position in Ally Financial by 5.6% during the first quarter. Signet Financial Management LLC now owns 6,724 shares of the financial services provider's stock valued at $245,000 after purchasing an additional 357 shares during the last quarter. Bessemer Group Inc. lifted its position in Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 377 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in Ally Financial by 22.3% during the first quarter. Fifth Third Bancorp now owns 2,519 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 459 shares during the last quarter. Institutional investors own 88.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALLY. Citigroup reiterated a "buy" rating and set a $59.00 price objective (up previously from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Morgan Stanley reiterated an "overweight" rating and set a $47.00 price objective (up previously from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Truist Financial increased their target price on shares of Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.67.

Ally Financial Trading Up 0.3%

Shares of ALLY traded up $0.12 during midday trading on Friday, hitting $42.22. The stock had a trading volume of 3,082,273 shares, compared to its average volume of 2,352,482. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $42.46. The firm has a market cap of $13.00 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 0.33 and a beta of 1.14. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The stock's 50 day moving average is $39.54 and its 200 day moving average is $36.62.

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

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial's dividend payout ratio (DPR) is currently 77.92%.

Ally Financial Company 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.