Allspring Global Investments Holdings LLC Purchases Shares of 54,458 Ally Financial Inc. (NYSE:ALLY)

Allspring Global Investments Holdings LLC bought a new position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 54,458 shares of the financial services provider's stock, valued at approximately $1,998,000.

Several other hedge funds have also recently added to or reduced their stakes in ALLY. Proficio Capital Partners LLC purchased a new stake in Ally Financial during the fourth quarter valued at about $2,534,000. Arizona State Retirement System raised its holdings in shares of Ally Financial by 1.6% during the fourth quarter. Arizona State Retirement System now owns 79,643 shares of the financial services provider's stock valued at $2,868,000 after acquiring an additional 1,262 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Ally Financial in the 4th quarter valued at approximately $2,337,000. Callan Family Office LLC acquired a new position in Ally Financial in the 4th quarter worth approximately $246,000. Finally, Amundi grew its position in Ally Financial by 81.0% during the 4th quarter. Amundi now owns 1,156,003 shares of the financial services provider's stock worth $41,165,000 after purchasing an additional 517,388 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Stock Performance

ALLY traded up $0.03 on Wednesday, hitting $40.38. The company had a trading volume of 2,593,954 shares, compared to its average volume of 3,778,600. The company's fifty day moving average price is $36.21 and its 200 day moving average price is $35.88. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $45.46. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 0.38 and a beta of 1.15.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.15. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $2.04 billion. Ally Financial had a net margin of 6.96% and a return on equity of 9.53%. During the same quarter last year, the firm posted $0.45 earnings per share. Equities analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Thursday, May 1st. Ally Financial's dividend payout ratio (DPR) is 88.24%.

Insider Activity

In other Ally Financial news, CFO Russell E. Hutchinson purchased 8,200 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was bought at an average cost of $30.81 per share, for a total transaction of $252,642.00. Following the completion of the acquisition, the chief financial officer directly owned 236,421 shares in the company, valued at $7,284,131.01. This represents a 3.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie N. Richard sold 8,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $32.14, for a total transaction of $257,120.00. Following the completion of the sale, the insider owned 90,387 shares in the company, valued at approximately $2,905,038.18. The trade was a 8.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on ALLY shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Ally Financial in a research report on Monday, April 21st. Wells Fargo & Company lowered their target price on Ally Financial from $34.00 to $32.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. Citigroup reissued a "buy" rating and issued a $59.00 price target (up from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Bank of America lowered their price objective on shares of Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Truist Financial increased their target price on shares of Ally Financial from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $41.60.

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.