Federated Hermes Inc. decreased its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 54.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,958 shares of the financial services provider's stock after selling 33,549 shares during the period. Federated Hermes Inc.'s holdings in Ally Financial were worth $1,020,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Ally Financial during the first quarter worth about $1,998,000. Teacher Retirement System of Texas bought a new position in shares of Ally Financial during the 1st quarter worth approximately $1,462,000. Bessemer Group Inc. boosted its stake in Ally Financial by 59.6% in the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after buying an additional 377 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Ally Financial by 56.3% in the first quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock valued at $2,466,000 after acquiring an additional 24,372 shares during the period. Finally, GAMMA Investing LLC grew its position in Ally Financial by 40.6% in the first quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock valued at $120,000 after acquiring an additional 952 shares during the period. Institutional investors own 88.76% of the company's stock.
Ally Financial Trading Up 1.4%
NYSE:ALLY traded up $0.52 on Friday, hitting $37.47. 1,811,959 shares of the stock were exchanged, compared to its average volume of 3,989,178. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $43.86. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 0.29 and a beta of 1.16. The company's 50-day moving average price is $38.20 and its 200 day moving average price is $36.32.
Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly 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. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. Ally Financial's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current year.
Ally Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. Ally Financial's dividend payout ratio is 77.92%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Morgan Stanley restated an "overweight" rating and issued a $47.00 target price (up previously from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. BTIG Research raised shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Truist Financial upped their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Citigroup reissued a "buy" rating and issued a $59.00 target price (up from $55.00) on shares of Ally Financial in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company decreased their price target on Ally Financial from $34.00 to $32.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Ally Financial presently has a consensus rating of "Hold" and an average price target of $42.80.
Read Our Latest Report on Ally Financial
About Ally Financial
(
Free Report)
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.
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