Ally Financial Inc. $ALLY Position Increased by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Ally Financial stake by 4.1% in the first quarter, bringing its holdings to 627,319 shares valued at about $24.6 million. Institutional investors own 88.76% of the stock.
• Ally Financial reported strong quarterly results, posting EPS of $1.11 versus expectations of $0.93 and revenue of $2.18 billion versus $2.14 billion expected. Revenue rose 36.4% year over year.
• Analyst sentiment remains positive, with several firms raising price targets and 14 analysts rating the stock a Buy. MarketBeat cites a consensus rating of “Moderate Buy” and a price target of $53.79.

Principal Financial Group Inc. increased its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 627,319 shares of the financial services provider's stock after acquiring an additional 24,712 shares during the quarter. Principal Financial Group Inc. owned about 0.20% of Ally Financial worth $24,610,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Ally Financial in the 4th quarter worth $29,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Ally Financial during the fourth quarter valued at about $35,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Ally Financial during the fourth quarter valued at about $37,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Ally Financial in the fourth quarter valued at about $38,000. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Ally Financial by 805.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 896 shares of the financial services provider's stock valued at $41,000 after buying an additional 797 shares during the period. 88.76% of the stock is owned by institutional investors.

Ally Financial Trading Down 0.4%

ALLY opened at $45.48 on Tuesday. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29. The stock has a market capitalization of $13.94 billion, a PE ratio of 11.09, a PEG ratio of 0.26 and a beta of 1.09. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.31. The firm has a 50-day moving average price of $44.15 and a two-hundred day moving average price of $42.64.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.18. The firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.14 billion. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The company's revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 earnings per share. As a group, equities analysts anticipate that Ally Financial Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALLY shares. Bank of America boosted their price target on Ally Financial from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Evercore reissued an "outperform" rating and set a $54.00 price objective on shares of Ally Financial in a report on Tuesday, April 21st. Royal Bank Of Canada boosted their price objective on Ally Financial from $52.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, July 10th. Finally, Wells Fargo & Company upped their target price on Ally Financial from $52.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.79.

Insider Buying and Selling at Ally Financial

In related news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $42.14, for a total value of $210,700.00. Following the sale, the insider directly owned 93,927 shares in the company, valued at $3,958,083.78. This trade represents a 5.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

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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