Korea Investment CORP Lowers Holdings in Ally Financial Inc. $ALLY

Key Points

• Korea Investment CORP significantly reduced its stake in Ally Financial Inc. by 54.7%, selling 100,500 shares and retaining 83,075 shares valued at approximately $3 million.
• The company's stock is currently priced at $40.58, having reached a twelve-month high of $43.86 and a low of $29.52.
• Ally Financial recently reported quarterly earnings of $0.99 per share, exceeding analysts' expectations, with revenue increasing by 3.0% year-over-year to $2.08 billion.

Korea Investment CORP reduced its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 54.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,075 shares of the financial services provider's stock after selling 100,500 shares during the quarter. Korea Investment CORP's holdings in Ally Financial were worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Copia Wealth Management purchased a new stake in Ally Financial during the first quarter valued at about $27,000. Private Trust Co. NA raised its position in Ally Financial by 125.7% during the first quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 509 shares in the last quarter. Bessemer Group Inc. raised its position in Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 377 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Ally Financial during the first quarter valued at about $74,000. Finally, Fifth Third Bancorp raised its position in Ally Financial by 22.3% during the first quarter. Fifth Third Bancorp now owns 2,519 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 459 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALLY has been the topic of a number of research reports. Royal Bank Of Canada restated an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Morgan Stanley restated an "overweight" rating and issued a $47.00 price objective (up previously from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. BTIG Research upgraded shares of 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 price objective (up previously from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Finally, Truist Financial boosted 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. Nine equities research 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. According to MarketBeat.com, Ally Financial presently has an average rating of "Hold" and an average target price of $42.80.

Ally Financial Stock Up 0.2%

Shares of NYSE:ALLY traded up $0.08 during midday trading on Thursday, reaching $41.14. The company's stock had a trading volume of 1,221,162 shares, compared to its average volume of 3,858,751. The firm has a 50 day moving average of $38.96 and a 200-day moving average of $36.34. The firm has a market capitalization of $12.66 billion, a P/E ratio of 26.74, a PEG ratio of 0.32 and a beta of 1.16. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. 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 released its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.21. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The company's revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. On average, research analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

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

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.