Aberdeen Group plc Sells 61,785 Shares of Ally Financial Inc. $ALLY

Key Points

• Aberdeen Group plc reduced its stake in Ally Financial Inc. by 22.9% during the first quarter, owning 0.07% of the company worth about $7.59 million after selling 61,785 shares.
• Ally Financial reported $0.99 earnings per share for the latest quarter, surpassing analyst expectations of $0.78, with revenue totaling $2.08 billion, up 3.0% year-over-year.
• The company recently declared a quarterly dividend of $0.30, resulting in an annualized yield of 3.1% and a payout ratio of approximately 77.92%.

Aberdeen Group plc lessened its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 22.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 208,179 shares of the financial services provider's stock after selling 61,785 shares during the quarter. Aberdeen Group plc owned about 0.07% of Ally Financial worth $7,592,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ally Financial during the 1st quarter worth about $1,998,000. Teacher Retirement System of Texas acquired a new stake in shares of Ally Financial during the 1st quarter worth about $1,462,000. Bessemer Group Inc. lifted its stake in shares of Ally Financial by 59.6% during the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock worth $37,000 after buying an additional 377 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Ally Financial by 56.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock worth $2,466,000 after buying an additional 24,372 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Ally Financial by 40.6% in the 1st quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock worth $120,000 after purchasing an additional 952 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $47.00 price objective (up previously from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Citigroup reiterated a "buy" rating and issued a $59.00 price objective (up previously from $55.00) on shares of Ally Financial in a research note on Wednesday, July 2nd. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. Finally, Truist Financial lifted their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $42.80.

Ally Financial Price Performance

ALLY stock traded up $2.1340 during mid-day trading on Friday, hitting $40.5840. The stock had a trading volume of 4,047,447 shares, compared to its average volume of 2,574,434. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $43.86. The firm has a market capitalization of $12.49 billion, a P/E ratio of 26.35, a P/E/G ratio of 0.32 and a beta of 1.16. The firm has a fifty day simple moving average of $38.70 and a 200 day simple moving average of $36.27.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.78 by $0.21. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm earned $0.97 EPS. The business's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial's dividend payout ratio (DPR) is currently 77.92%.

Ally Financial Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.