Ally Financial Inc. $ALLY Shares Purchased by Oldfield Partners LLP

Key Points

• Oldfield Partners increased its Ally Financial stake by 27.4% in the second quarter, buying 347,700 additional shares to reach 1.62 million shares valued at approximately $74.2 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, though earnings of $1.21 per share narrowly missed estimates. The company declared a quarterly dividend of $0.30 per share, representing a 2.7% yield.
• ALLY shares opened at $44.28, while analysts maintain a “Moderate Buy” consensus with an average price target of $53.64; 14 analysts rate the stock Buy and two rate it Hold.

Oldfield Partners LLP boosted its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 27.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,615,100 shares of the financial services provider's stock after purchasing an additional 347,700 shares during the quarter. Ally Financial comprises 17.9% of Oldfield Partners LLP's holdings, making the stock its 2nd biggest position. Oldfield Partners LLP owned 0.53% of Ally Financial worth $74,214,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALLY. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Ally Financial in the fourth quarter valued at about $29,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Ally Financial during the 4th quarter worth approximately $35,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Ally Financial in the fourth quarter valued at $37,000. Harvest Fund Management Co. Ltd bought a new position in Ally Financial in the 4th quarter valued at about $38,000. Finally, SJS Investment Consulting Inc. increased its stake in shares of Ally Financial by 30.8% during the first quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider's stock worth $40,000 after purchasing an additional 240 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Stephanie N. Richard sold 5,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the transaction, the insider directly owned 88,927 shares of the company's stock, valued at $3,933,241.21. This trade represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Ally Financial Stock Up 0.8%

Shares of NYSE ALLY opened at $44.28 on Thursday. The company has a 50 day simple moving average of $44.73 and a 200 day simple moving average of $42.57. 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 1 year low of $35.92 and a 1 year high of $47.29. The firm has a market cap of $13.47 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The company's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 earnings per share. On average, research analysts forecast that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, July 31st. Ally Financial's dividend payout ratio is presently 28.30%.

Analysts Set New Price Targets

A number of analysts have issued reports on ALLY shares. Citigroup cut their price objective on shares of Ally Financial from $70.00 to $58.00 and set a "buy" rating for the company in a report on Tuesday, June 23rd. Royal Bank Of Canada increased their price target on shares of Ally Financial from $52.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. The Goldman Sachs Group boosted their price objective on shares of Ally Financial from $50.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Wells Fargo & Company lifted their price target on Ally Financial from $52.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Finally, Weiss Ratings upgraded Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $53.64.

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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