AMF Tjanstepension AB Sells 28,849 Shares of Ally Financial Inc. $ALLY

Key Points

• AMF Tjanstepension AB sold 28,849 shares of Ally Financial Inc., reducing its holdings by 20.6%, leaving them with 111,079 shares valued at approximately $4.33 million.
• Ally Financial reported $2.08 billion in revenue for the last quarter, surpassing analyst expectations and showing a 3% increase compared to the previous year.
• Following a recent dividend announcement, Ally Financial's stock has an attractive dividend yield of 3.0%, with a payout ratio of 77.92%.

AMF Tjanstepension AB reduced its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 20.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,079 shares of the financial services provider's stock after selling 28,849 shares during the quarter. AMF Tjanstepension AB's holdings in Ally Financial were worth $4,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALLY. WPG Advisers LLC bought a new position in shares of Ally Financial during the first quarter valued at $25,000. Copia Wealth Management bought a new position in Ally Financial in the first quarter valued at about $27,000. SVB Wealth LLC bought a new position in Ally Financial in the first quarter valued at about $27,000. Private Trust Co. NA lifted its holdings in Ally Financial by 125.7% in the first quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 509 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Ally Financial by 59.6% in the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 377 shares during the period. 88.76% of the stock is owned by institutional investors.

Ally Financial Stock Up 1.9%

NYSE ALLY opened at $39.58 on Friday. The stock's 50-day moving average price is $40.12 and its 200-day moving average price is $37.32. 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 Inc. has a 52 week low of $29.52 and a 52 week high of $44.83. The company has a market capitalization of $12.18 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 0.30 and a beta of 1.18.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, topping 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 firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company earned $0.97 earnings per share. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

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

Analyst Upgrades and Downgrades

ALLY has been the topic of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Ally Financial in a report on Saturday, September 27th. Truist Financial increased their target price on Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wells Fargo & Company raised Ally Financial from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $37.00 to $45.00 in a report on Tuesday, September 2nd. Evercore ISI lowered their target price on Ally Financial from $45.00 to $44.00 and set an "in-line" rating on the stock in a report on Tuesday. Finally, Citigroup increased their target price on Ally Financial from $59.00 to $70.00 and gave the company a "buy" rating in a report on Monday, September 15th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $45.36.

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.

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