APG Asset Management N.V. Trims Stake in Ally Financial Inc. $ALLY

Key Points

• APG Asset Management N.V. reduced its stake in Ally Financial Inc. by 4.7%, selling 7,100 shares and holding 144,800 shares worth approximately $4.89 million as of the last quarter.
• Several institutional investors have increased their positions in Ally Financial, including Northwestern Mutual Wealth Management Co. and Allstate Corp., highlighting a trend of increasing interest in the stock.
• Ally Financial recently declared a dividend of $0.30 per share, representing a 2.9% dividend yield and a payout ratio of 77.92%.

APG Asset Management N.V. trimmed its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,800 shares of the financial services provider's stock after selling 7,100 shares during the period. APG Asset Management N.V.'s holdings in Ally Financial were worth $4,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Copia Wealth Management purchased a new position in Ally Financial during the first quarter worth about $27,000. Private Trust Co. NA boosted its stake in shares of Ally Financial by 125.7% during the first quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 509 shares during the period. Bessemer Group Inc. boosted its stake 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 valued at $37,000 after purchasing an additional 377 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Ally Financial during the first quarter valued at approximately $74,000. Finally, Fifth Third Bancorp increased its stake in shares of Ally Financial by 22.3% during the first quarter. Fifth Third Bancorp now owns 2,519 shares of the financial services provider's stock valued at $92,000 after buying an additional 459 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALLY has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and set a $47.00 price objective (up previously from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. Citigroup reissued a "buy" rating and issued a $59.00 target price (up previously from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Finally, Truist Financial raised their price target on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $42.80.

Ally Financial Price Performance

ALLY stock traded down $0.00 during trading on Monday, reaching $41.05. The company's stock had a trading volume of 2,233,072 shares, compared to its average volume of 2,528,210. The company has a market capitalization of $12.63 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 0.32 and a beta of 1.13. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year 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's fifty day moving average is $39.21 and its 200-day moving average is $36.39.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The business's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 EPS. On average, research analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial's dividend payout ratio (DPR) is presently 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.