Ally Financial Inc. $ALLY Shares Sold by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN reduced its stake in Ally by 29.8%, selling 236,333 shares and retaining 555,662 shares valued at about $25.17 million.
• In its most recent quarter Ally reported an EPS beat of $1.11 vs. $0.93 expected and revenue of $2.18 billion (up 36.4% YoY), and announced a $0.30 quarterly dividend (annualized $1.20, ~2.6% yield).
• Analysts are mostly positive with a consensus "Moderate Buy" and an average target of $54.14, while insiders showed mixed activity — CEO Michael Rhodes bought 23,800 shares and another insider sold 39,675 shares.

OLD National Bancorp IN decreased its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 29.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 555,662 shares of the financial services provider's stock after selling 236,333 shares during the period. OLD National Bancorp IN owned about 0.18% of Ally Financial worth $25,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALLY. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Ally Financial in the fourth quarter valued at about $29,000. Mather Group LLC. acquired a new position in shares of Ally Financial during the 3rd quarter worth about $31,000. Larson Financial Group LLC lifted its stake in Ally Financial by 67.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,072 shares of the financial services provider's stock valued at $42,000 after buying an additional 430 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Ally Financial by 98.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the financial services provider's stock valued at $44,000 after buying an additional 552 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Ally Financial by 53.5% in the 3rd quarter. Allworth Financial LP now owns 1,154 shares of the financial services provider's stock worth $45,000 after buying an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Wall Street Analysts Forecast Growth

ALLY has been the subject of several research reports. JPMorgan Chase & Co. cut their price objective on Ally Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Evercore reaffirmed an "outperform" rating and issued a $54.00 price target on shares of Ally Financial in a research note on Tuesday. Barclays boosted their price target on Ally Financial from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Monday. BTIG Research restated a "neutral" rating on shares of Ally Financial in a report on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Ally Financial from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.14.

Ally Financial Trading Down 0.2%

ALLY opened at $45.65 on Thursday. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 0.28 and a beta of 1.14. The company's 50 day simple moving average is $40.26 and its two-hundred day simple moving average is $41.43. Ally Financial Inc. has a 1-year low of $31.45 and a 1-year high of $47.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the business earned $0.58 earnings per share. The business's revenue was up 36.4% compared to the same quarter last year. Analysts expect that Ally Financial Inc. will post 5.29 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. Ally Financial's dividend payout ratio (DPR) is 29.27%.

Insiders Place Their Bets

In other news, CEO Michael George Rhodes acquired 23,800 shares of the business's stock in a transaction that occurred on Friday, January 23rd. The stock was purchased at an average cost of $41.68 per share, for a total transaction of $991,984.00. Following the completion of the transaction, the chief executive officer owned 49,434 shares in the company, valued at approximately $2,060,409.12. This trade represents a 92.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the transaction, the insider directly owned 477,627 shares in the company, valued at $21,574,411.59. This trade represents a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.46% of the company's stock.

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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