Ally Financial Inc. $ALLY Shares Sold by Amundi

Key Points

• Amundi cut its Ally Financial stake by 53.4% in the first quarter, selling 110,990 shares and retaining 96,922 shares valued at approximately $3.8 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 earnings per share of $1.21 narrowly missed analysts’ $1.22 estimate. The company declared a quarterly dividend of $0.30 per share, representing a 2.7% yield.
• Wall Street maintains a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $53.64, compared with the stock’s cited price of $44.06.

Amundi reduced its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 53.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,922 shares of the financial services provider's stock after selling 110,990 shares during the period. Amundi's holdings in Ally Financial were worth $3,802,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ALLY. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ally Financial during the fourth quarter worth $29,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Ally Financial during the 4th quarter worth $35,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Ally Financial in the 4th quarter valued at about $37,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Ally Financial in the fourth quarter valued at about $38,000. Finally, SJS Investment Consulting Inc. boosted its holdings in 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 buying an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Insider Transactions at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the business's stock in a transaction dated 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 sale, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Ally Financial Price Performance

Ally Financial stock opened at $44.06 on Friday. Ally Financial Inc. has a 1 year low of $35.92 and a 1 year high of $47.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a 50 day moving average price of $44.58 and a 200 day moving average price of $42.53. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 0.28 and a beta of 1.10.

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

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, July 31st. Ally Financial's payout ratio is 28.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ALLY shares. Morgan Stanley increased their target price on shares of Ally Financial from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, April 20th. Wall Street Zen cut Ally Financial from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Royal Bank Of Canada boosted their target price on Ally Financial from $52.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Bank of America lifted their price target on Ally Financial from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of Ally Financial from $50.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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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