Allspring Global Investments Holdings LLC Buys New Stake in Ally Financial Inc. (NYSE:ALLY)

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

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bessemer Group Inc. increased its stake 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 worth $37,000 after purchasing an additional 377 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Ally Financial by 56.3% during the first quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock valued at $2,466,000 after purchasing an additional 24,372 shares in the last quarter. GAMMA Investing LLC raised its stake in Ally Financial by 40.6% during the first quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock valued at $120,000 after buying an additional 952 shares during the last quarter. Blue Trust Inc. raised its stake in Ally Financial by 2,535.6% during the first quarter. Blue Trust Inc. now owns 2,662 shares of the financial services provider's stock valued at $97,000 after buying an additional 2,561 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Ally Financial by 42.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,693 shares of the financial services provider's stock valued at $2,505,000 after buying an additional 20,320 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Ally Financial Price Performance

NYSE:ALLY traded down $0.10 during trading hours on Friday, hitting $40.42. 2,608,347 shares of the stock were exchanged, compared to its average volume of 3,779,167. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $45.46. The firm's fifty day moving average price is $36.53 and its 200 day moving average price is $35.95. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.38. The company has a market cap of $12.42 billion, a P/E ratio of 29.72, a P/E/G ratio of 0.38 and a beta of 1.15.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.15. Ally Financial had a return on equity of 9.53% and a net margin of 6.96%. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the previous year, the firm posted $0.45 EPS. As a group, equities research analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Russell E. Hutchinson acquired 8,200 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were acquired at an average price of $30.81 per share, with a total value of $252,642.00. Following the completion of the transaction, the chief financial officer owned 236,421 shares of the company's stock, valued at $7,284,131.01. The trade was a 3.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie N. Richard sold 8,000 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $32.14, for a total transaction of $257,120.00. Following the sale, the insider owned 90,387 shares of the company's stock, valued at $2,905,038.18. This trade represents a 8.13% decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALLY. BTIG Research cut Ally Financial from a "neutral" rating to a "sell" rating and set a $30.00 price target for the company. in a research note on Tuesday, March 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $40.00 price objective on shares of Ally Financial in a research note on Monday, April 21st. Wall Street Zen upgraded Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Truist Financial boosted their target price on Ally Financial from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Morgan Stanley restated an "overweight" rating and set a $47.00 price objective (up from $39.00) on shares of Ally Financial in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $42.67.

About Ally Financial

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.