State of New Jersey Common Pension Fund D Sells 14,483 Shares of Ally Financial Inc. $ALLY

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Ally Financial Inc. by 15.1%, owning 81,259 shares valued at approximately $2.96 million after selling 14,483 shares.
• Several institutional investors have increased their holdings in Ally Financial, with Jacobs Levy Equity Management Inc. raising its position by 84.0% in the fourth quarter.
• Ally Financial reported a $0.99 EPS for the last quarter, exceeding expectations, and also announced a quarterly dividend of $0.30, resulting in a yield of 3.1%.

State of New Jersey Common Pension Fund D decreased its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 15.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,259 shares of the financial services provider's stock after selling 14,483 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Ally Financial were worth $2,964,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Copia Wealth Management bought a new stake in Ally Financial during the first quarter worth $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 worth $33,000 after acquiring 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 worth $37,000 after acquiring an additional 377 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Ally Financial during the first quarter worth $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 worth $92,000 after acquiring an additional 459 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Stock Performance

Shares of Ally Financial stock traded up $2.1340 during trading on Friday, reaching $40.5840. The company's stock had a trading volume of 4,047,447 shares, compared to its average volume of 2,574,434. The business's 50-day moving average price is $38.70 and its 200-day moving average price is $36.27. The firm has a market cap of $12.49 billion, a PE ratio of 26.35, a P/E/G ratio of 0.32 and a beta of 1.16. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $43.86. 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 (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.21. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Ally Financial's revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

ALLY has been the topic of several analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $47.00 price target (up from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Wall Street Zen upgraded shares of Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. Truist Financial upped their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Nine 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. Based on data from MarketBeat, Ally Financial currently has an average rating of "Hold" and a consensus price target 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.