Ally Financial Inc. $ALLY Stock Position Lifted by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems ET Al boosted its Ally Financial stake by 153.5% in Q4, ending with 54,250 shares valued at about $2.46 million. Other institutional investors also increased holdings, and institutions now own 88.76% of the company.
• Ally Financial reported strong quarterly results, posting $1.11 EPS versus $0.93 expected and revenue of $2.18 billion, up 36.4% year over year. Analysts now expect the company to earn 5.3 EPS for the full year.
• The company declared a quarterly dividend of $0.30 per share, implying an annualized payout of $1.20 and a 2.8% yield. Meanwhile, analysts remain mostly bullish, with a consensus “Moderate Buy” rating and average target price of $54.14.

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 153.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,250 shares of the financial services provider's stock after purchasing an additional 32,850 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Ally Financial were worth $2,457,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Sweeney & Michel LLC grew its stake in shares of Ally Financial by 4.0% in the third quarter. Sweeney & Michel LLC now owns 6,663 shares of the financial services provider's stock worth $246,000 after purchasing an additional 256 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Ally Financial by 43.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 904 shares of the financial services provider's stock worth $41,000 after purchasing an additional 276 shares in the last quarter. Signaturefd LLC grew its stake in shares of Ally Financial by 2.0% in the fourth quarter. Signaturefd LLC now owns 13,933 shares of the financial services provider's stock worth $631,000 after purchasing an additional 277 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Ally Financial by 1.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 17,941 shares of the financial services provider's stock worth $813,000 after purchasing an additional 279 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Ally Financial by 2.0% in the fourth quarter. Assetmark Inc. now owns 14,583 shares of the financial services provider's stock worth $660,000 after purchasing an additional 281 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

Ally Financial Trading Up 1.5%

NYSE:ALLY opened at $42.34 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. Ally Financial Inc. has a 1-year low of $32.50 and a 1-year high of $47.27. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 0.25 and a beta of 1.12. The stock has a fifty day simple moving average of $41.03 and a 200 day simple moving average of $41.83.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share 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 quarter last year, the company posted $0.58 EPS. Ally Financial's revenue for the quarter was up 36.4% on a year-over-year basis. Sell-side analysts forecast that Ally Financial Inc. will post 5.3 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be given a $0.30 dividend. The ex-dividend date is Friday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Ally Financial's dividend payout ratio (DPR) is 29.27%.

Insider Buying and Selling at Ally Financial

In related news, insider Douglas R. Timmerman sold 39,675 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $45.17, for a total value of $1,792,119.75. Following the completion of the transaction, the insider owned 477,627 shares in the company, valued at $21,574,411.59. This trade represents a 7.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ALLY shares. Truist Financial set a $54.00 target price on Ally Financial in a research note on Tuesday, April 21st. Barclays raised their target price on Ally Financial from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Monday, April 20th. Weiss Ratings raised Ally Financial from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Evercore reaffirmed an "outperform" rating and set a $54.00 target price on shares of Ally Financial in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised Ally Financial from a "hold" rating to a "buy" rating in a research note on Monday. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $54.14.

About Ally Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.