Ally Financial Inc. $ALLY Shares Bought by Amundi

Key Points

• Amundi increased its Ally Financial position by 183.5% in the second quarter, holding 274,754 shares worth approximately $12.6 million. Institutional investors and hedge funds collectively own 88.76% of the company.
• Ally reported quarterly revenue of $2.28 billion, up 9.8% year over year, but earnings per share of $1.21 narrowly missed the $1.22 analyst consensus.
• The company paid a quarterly dividend of $0.30 per share, equivalent to an annualized $1.20 dividend and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $53.73.

Amundi boosted its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 183.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 274,754 shares of the financial services provider's stock after acquiring an additional 177,832 shares during the quarter. Amundi owned about 0.09% of Ally Financial worth $12,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ALLY. BlackRock Inc. purchased a new stake in Ally Financial in the second quarter valued at $1,315,659,000. Berkshire Hathaway Inc purchased a new position in Ally Financial during the 2nd quarter worth approximately $1,240,650,000. California State Teachers Retirement System increased its position in Ally Financial by 4,362.7% during the second quarter. California State Teachers Retirement System now owns 14,336,308 shares of the financial services provider's stock worth $658,753,000 after buying an additional 14,015,057 shares during the period. Wellington Management Group LLP lifted its stake in Ally Financial by 19.5% in the fourth quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider's stock valued at $646,347,000 after buying an additional 2,332,610 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Ally Financial by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider's stock valued at $353,776,000 after acquiring an additional 309,638 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ally Financial

In related news, insider Stephanie Richard sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the sale, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.46% of the company's stock.

Ally Financial Price Performance

Shares of ALLY stock opened at $42.08 on Friday. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 0.26 and a beta of 1.09. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a one year low of $35.92 and a one year high of $47.29. The stock's fifty day simple moving average is $43.85 and its 200 day simple moving average is $42.70.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.01). The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. On average, analysts expect that Ally Financial Inc. will post 5.2 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Ally Financial's payout ratio is currently 28.30%.

Analyst Ratings Changes

ALLY has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Bank of America lifted their target price on shares of Ally Financial from $52.00 to $53.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $58.00 target price on shares of Ally Financial in a research report on Wednesday, July 22nd. Wall Street Zen cut Ally Financial from a "buy" rating to a "hold" rating in a research note on Monday, June 8th. Finally, Truist Financial decreased their price target on shares of Ally Financial from $54.00 to $51.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $53.73.

Ally Financial Profile

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan. Through its subsidiaries, the company provides consumer and commercial financial products, with a primary focus on automotive financing and digital banking.

Ally's automotive business offers retail installment sales contracts, consumer loans and leasing products through a network of automotive dealers. The company also provides dealer financing and related commercial lending services. Through Ally Bank, it offers deposit accounts, personal loans, mortgage products and other banking services, while Ally Invest provides self-directed investment and brokerage services to individuals.

The company serves customers primarily in the United States through digital platforms, dealer relationships and other distribution channels.

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