Westbourne Investments Inc. Sells 8,300 Shares of Ally Financial Inc. $ALLY

Key Points

• Westbourne Investments Inc. reduced its stake in Ally Financial Inc. by 23.4%, owning 27,135 shares after selling 8,300 shares during the first quarter.
• Ally Financial reported $0.99 earnings per share for the last quarter, exceeding analysts' estimates of $0.78, with quarterly revenues up 3.0% year-over-year.
• The company declared a quarterly dividend of $0.30 per share, representing a 2.9% yield, with a dividend payout ratio of 77.92%.

Westbourne Investments Inc. cut its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 23.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,135 shares of the financial services provider's stock after selling 8,300 shares during the period. Westbourne Investments Inc.'s holdings in Ally Financial were worth $990,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALLY. Wellington Management Group LLP bought a new position in shares of Ally Financial during the 1st quarter worth approximately $253,881,000. Millennium Management LLC boosted its holdings in shares of Ally Financial by 234.7% during the 1st quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider's stock worth $136,838,000 after buying an additional 2,630,981 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Ally Financial by 6,226.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,368,654 shares of the financial services provider's stock worth $49,285,000 after buying an additional 1,347,020 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Ally Financial by 173.2% during the 1st quarter. AQR Capital Management LLC now owns 1,377,717 shares of the financial services provider's stock worth $49,984,000 after buying an additional 873,380 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Ally Financial by 105.1% during the 4th quarter. Deutsche Bank AG now owns 1,316,415 shares of the financial services provider's stock worth $47,404,000 after buying an additional 674,464 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Stock Up 0.3%

NYSE:ALLY traded up $0.12 during trading hours on Friday, hitting $42.22. 3,082,273 shares of the company traded hands, compared to its average volume of 2,352,482. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The firm's 50-day simple moving average is $39.54 and its 200-day simple moving average is $36.62. Ally Financial Inc. has a one year low of $29.52 and a one year high of $42.46. The company has a market cap of $13.00 billion, a PE ratio of 27.42, a PEG ratio of 0.33 and a beta of 1.14.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 earnings per share 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 business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the business earned $0.97 EPS. The business's revenue was up 3.0% on a year-over-year basis. Equities analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 1st. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial's dividend payout ratio (DPR) is 77.92%.

Wall Street Analysts Forecast Growth

ALLY has been the topic of a number of research analyst reports. Morgan Stanley restated an "overweight" rating and set a $47.00 price target (up from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. Truist Financial increased their target price on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Wells Fargo & Company upgraded Ally Financial from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $37.00 to $45.00 in a report on Tuesday, September 2nd. JPMorgan Chase & Co. increased their target price on Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, BTIG Research upgraded Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.67.

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.