Ally Financial Inc. $ALLY Shares Purchased by Algert Global LLC

Key Points

• Algert Global increased its Ally Financial stake by 25% in the second quarter, buying 135,697 shares to hold 679,282 shares worth approximately $31.2 million. Institutional investors collectively own 88.76% of the company.
• Ally reported quarterly revenue of $2.28 billion, up 9.8% year over year, while adjusted earnings of $1.21 per share narrowly missed analysts’ $1.22 estimate. The company maintains a quarterly dividend of $0.30 per share, yielding about 2.8% annually.
• ALLY shares opened at $42.45, below the analyst consensus target of $53.64. Fourteen analysts rate the stock Buy and two rate it Hold, resulting in a consensus “Moderate Buy” rating.

Algert Global LLC raised its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 25.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 679,282 shares of the financial services provider's stock after purchasing an additional 135,697 shares during the quarter. Ally Financial comprises about 0.4% of Algert Global LLC's investment portfolio, making the stock its 20th biggest position. Algert Global LLC owned 0.22% of Ally Financial worth $31,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. grew its position in Ally Financial by 30.8% in the first quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 240 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Ally Financial by 3.1% during the first quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider's stock worth $314,000 after purchasing an additional 243 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Ally Financial by 31.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,052 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 252 shares during the period. Triumph Capital Management boosted its stake in shares of Ally Financial by 9.2% in the fourth quarter. Triumph Capital Management now owns 3,133 shares of the financial services provider's stock valued at $142,000 after purchasing an additional 265 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Ally Financial by 25.0% during the 4th quarter. Larson Financial Group LLC now owns 1,340 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Insider Buying and Selling

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the transaction, the insider owned 88,927 shares of the company's stock, valued at $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.

Ally Financial Stock Down 1.1%

Shares of Ally Financial stock opened at $42.45 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a market cap of $12.91 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.27 and a beta of 1.10. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The business has a 50-day moving average price of $44.76 and a 200 day moving average price of $42.64.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results 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). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business earned $0.99 EPS. The company's quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.30 per share. The ex-dividend date was Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial's dividend payout ratio (DPR) is 28.30%.

Wall Street Analyst Weigh In

ALLY has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Ally Financial from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Truist Financial cut their price target on Ally Financial from $54.00 to $51.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Citigroup reduced their price target on Ally Financial from $70.00 to $58.00 and set a "buy" rating for the company in a report on Tuesday, June 23rd. Bank of America lifted their price objective on Ally Financial from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company increased 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 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, Ally Financial has an average rating of "Moderate Buy" and a consensus target price of $53.64.

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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