Ally Financial Inc. $ALLY Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. decreased its stake in Ally Financial by 2.2%, owning now 303,991 shares worth approximately $11 million.
• Ally Financial reported $0.99 earnings per share for the last quarter, exceeding analysts' expectations of $0.78 per share.
• The financial services provider declared a $0.30 quarterly dividend, representing an annualized yield of 2.9% with a payout ratio of 77.92%.

Corebridge Financial Inc. reduced its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 303,991 shares of the financial services provider's stock after selling 6,753 shares during the period. Corebridge Financial Inc. owned 0.10% of Ally Financial worth $11,087,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Tidal Investments LLC lifted its holdings in shares of Ally Financial by 1.1% in the 4th quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider's stock worth $946,000 after purchasing an additional 280 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Ally Financial by 4.9% in the fourth quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider's stock valued at $229,000 after buying an additional 297 shares during the last quarter. Signet Financial Management LLC lifted its stake in Ally Financial by 5.6% in the first quarter. Signet Financial Management LLC now owns 6,724 shares of the financial services provider's stock valued at $245,000 after buying an additional 357 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of Ally Financial by 5.9% during the fourth quarter. Lido Advisors LLC now owns 6,455 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 359 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock worth $37,000 after acquiring an additional 377 shares during the last quarter. 88.76% of the stock is owned by institutional investors.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $40.75 on Wednesday. The stock's 50 day moving average price is $38.87 and its 200 day moving average price is $36.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $12.54 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 0.32 and a beta of 1.16. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $43.22.

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

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $0.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.20 annualized dividend and a yield of 2.9%. Ally Financial's payout ratio is 77.92%.

Analyst Ratings Changes

ALLY has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. BTIG Research upgraded Ally Financial from a "sell" rating to a "neutral" rating in a research report on Monday, July 14th. Citigroup restated a "buy" rating and issued a $59.00 target price (up from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $47.00 target price (up previously from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Ally Financial currently has an average rating of "Hold" and an average target price of $42.80.

Ally Financial Company 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.

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