Ally Financial Inc. $ALLY Shares Bought by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in Ally Financial by 4.7% in the fourth quarter, buying an additional 241,000 shares and bringing its total holding to 5.38 million shares worth about $243.8 million.
• Analyst sentiment remains mostly positive, with 14 analysts rating the stock a Buy and two rating it Hold. The consensus price target is $54.14, above the stock’s recent price near $42.10.
• Ally Financial reported better-than-expected quarterly results, posting EPS of $1.11 versus estimates of $0.93 and revenue of $2.18 billion, while also paying a quarterly dividend of $0.30 per share.

Geode Capital Management LLC raised its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 4.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,381,838 shares of the financial services provider's stock after purchasing an additional 241,000 shares during the period. Geode Capital Management LLC owned about 1.75% of Ally Financial worth $243,795,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. NewSquare Capital LLC grew its holdings in Ally Financial by 21,520.9% in the third quarter. NewSquare Capital LLC now owns 27,891 shares of the financial services provider's stock valued at $1,093,000 after purchasing an additional 27,762 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Ally Financial in the third quarter valued at $1,194,000. Prana Capital Management LP grew its holdings in Ally Financial by 177.3% in the third quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider's stock valued at $7,007,000 after purchasing an additional 114,305 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Ally Financial by 7.5% in the third quarter. Principal Financial Group Inc. now owns 674,471 shares of the financial services provider's stock valued at $26,439,000 after purchasing an additional 47,184 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new stake in Ally Financial in the third quarter valued at $45,733,000. Institutional investors and hedge funds own 88.76% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on ALLY shares. Weiss Ratings lowered Ally Financial from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. decreased their price objective on Ally Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Wall Street Zen raised Ally Financial from a "hold" rating to a "buy" rating in a research note on Sunday. Bank of America increased their price objective on Ally Financial from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, April 10th. Finally, Barclays increased their price objective on Ally Financial from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Monday, April 20th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $54.14.

Ally Financial Stock Up 0.1%

Shares of NYSE:ALLY opened at $42.10 on Wednesday. The stock's 50-day moving average price is $42.14 and its two-hundred day moving average price is $42.06. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 0.25 and a beta of 1.10. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.31. Ally Financial Inc. has a 12-month low of $34.71 and a 12-month high of $47.27.

Ally Financial (NYSE:ALLY - Get Free Report) last released 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. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.14 billion. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The company's quarterly revenue was up 36.4% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS. On average, research analysts forecast that Ally Financial Inc. will post 5.3 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, May 1st. Ally Financial's dividend payout ratio (DPR) is 29.27%.

Insider Transactions at Ally Financial

In other news, insider Douglas R. Timmerman sold 39,675 shares of the firm's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $45.17, for a total value of $1,792,119.75. Following the transaction, the insider directly owned 477,627 shares in the company, valued at $21,574,411.59. This trade represents a 7.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephanie N. Richard sold 5,000 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the completion of the transaction, the insider owned 93,927 shares in the company, valued at approximately $3,958,083.78. This trade represents a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.46% of the company's stock.

About Ally Financial

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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