Ally Financial Inc. $ALLY Holdings Increased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon boosted its Ally Financial stake by 32.5% in the fourth quarter, now holding 2.34 million shares valued at about $105.9 million.
• Several other institutional investors also increased or initiated positions, and overall 88.76% of Ally Financial’s stock is owned by institutions.
• Ally Financial reported strong quarterly results, with EPS of $1.11 beating estimates and revenue rising 36.4% year over year; analysts currently view the stock as a Moderate Buy with a consensus target of about $54.14.

Bank of New York Mellon Corp lifted its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 32.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,337,395 shares of the financial services provider's stock after acquiring an additional 573,252 shares during the period. Bank of New York Mellon Corp owned 0.76% of Ally Financial worth $105,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in Ally Financial by 11.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,346,200 shares of the financial services provider's stock worth $60,969,000 after acquiring an additional 136,476 shares during the period. Natixis Advisors LLC grew its stake in shares of Ally Financial by 8.5% in the 4th quarter. Natixis Advisors LLC now owns 838,939 shares of the financial services provider's stock worth $37,995,000 after purchasing an additional 65,719 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of Ally Financial by 13.4% in the 4th quarter. Root Financial Partners LLC now owns 2,317 shares of the financial services provider's stock worth $105,000 after purchasing an additional 274 shares in the last quarter. Norges Bank bought a new stake in shares of Ally Financial in the 4th quarter worth approximately $157,610,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Ally Financial during the fourth quarter valued at approximately $123,000. 88.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the transaction, the insider directly owned 93,927 shares of the company's stock, valued at $3,958,083.78. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas R. Timmerman sold 39,675 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the completion of the transaction, the insider directly owned 477,627 shares in the company, valued at $21,574,411.59. The trade was a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ALLY has been the subject of a number of recent research reports. Evercore reiterated an "outperform" rating and set a $54.00 price objective on shares of Ally Financial in a research report on Tuesday, April 21st. The Goldman Sachs Group boosted their target price on Ally Financial from $50.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Wall Street Zen downgraded Ally Financial from a "buy" rating to a "hold" rating in a report on Monday. Weiss Ratings lowered Ally Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, May 26th. Finally, Truist Financial set a $54.00 price target on Ally Financial in a research note on Tuesday, April 21st. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Ally Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.14.

Ally Financial Price Performance

ALLY opened at $42.71 on Monday. The firm has a market capitalization of $13.09 billion, a P/E ratio of 10.42, a PEG ratio of 0.26 and a beta of 1.10. The stock has a fifty day moving average of $42.37 and a 200-day moving average of $42.14. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. Ally Financial Inc. has a 12-month low of $35.71 and a 12-month high of $47.27.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company posted $0.58 EPS. The business's quarterly revenue was up 36.4% compared to the same quarter last year. Equities analysts forecast that Ally Financial Inc. will post 5.28 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.30 per share. The ex-dividend date was Friday, May 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. Ally Financial's dividend payout ratio is 29.27%.

Ally Financial 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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