American Century Companies Inc. Raises Stock Position in Ally Financial Inc. $ALLY

Key Points

• American Century Companies Inc. increased its stake in Ally Financial Inc. by 15.5%, acquiring an additional 78,028 shares, bringing its total ownership to 580,953 shares worth $21,187,000.
• Ally Financial recently reported $0.99 earnings per share for the quarter, surpassing estimates of $0.78, and noted a revenue increase of 3.0% year-over-year.
• The company announced a quarterly dividend of $0.30 per share, implying an annualized yield of 3.0%, with a dividend payout ratio of 77.92%.

American Century Companies Inc. grew its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 15.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 580,953 shares of the financial services provider's stock after purchasing an additional 78,028 shares during the quarter. American Century Companies Inc. owned about 0.19% of Ally Financial worth $21,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC raised its stake in shares of Ally Financial by 1.1% in the fourth quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider's stock worth $946,000 after purchasing an additional 280 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Ally Financial by 4.9% during the fourth quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider's stock valued at $229,000 after purchasing an additional 297 shares during the period. Signet Financial Management LLC grew its holdings in Ally Financial by 5.6% during the first quarter. Signet Financial Management LLC now owns 6,724 shares of the financial services provider's stock valued at $245,000 after purchasing an additional 357 shares during the period. Lido Advisors LLC lifted its position in shares of Ally Financial by 5.9% during the fourth quarter. Lido Advisors LLC now owns 6,455 shares of the financial services provider's stock worth $232,000 after acquiring an additional 359 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of 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. 88.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALLY. BTIG Research upgraded Ally Financial from a "sell" rating to a "neutral" rating in a research report on Monday, July 14th. Truist Financial raised their price objective on Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and issued a $47.00 target price (up from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $42.80.

Ally Financial Price Performance

ALLY stock traded up $0.06 during mid-day trading on Thursday, hitting $41.12. The company had a trading volume of 1,124,529 shares, compared to its average volume of 3,858,137. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 0.32 and a beta of 1.16. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $43.22. 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 company has a 50-day moving average price of $38.96 and a 200 day moving average price of $36.34.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.21. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the company earned $0.97 EPS. The business's revenue was up 3.0% compared to the same quarter last year. On average, research analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.9%. Ally Financial's dividend payout ratio (DPR) is currently 77.92%.

About Ally Financial

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.