Artemis Investment Management LLP Lowers Stake in Ally Financial Inc. $ALLY

Key Points

• Artemis Investment Management cut its Ally Financial stake by 62.1% in Q4, selling 1,091,367 shares and retaining 665,882 shares (~0.22% of the company) valued at about $30.16 million.
• Ally beat Q4 expectations, reporting $1.11 EPS versus $0.93 expected and $2.18B in revenue (up 36.4% YoY), and announced a $0.30 quarterly dividend (annualized $1.20, 2.8% yield; ex-dividend May 1, payable May 15).
• Insider and analyst activity: director Douglas R. Timmerman sold 39,675 shares at about $45.17 (a 7.67% reduction of his position) and analysts maintain a consensus "Moderate Buy" rating with a $54.14 target price.

Artemis Investment Management LLP lessened its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 665,882 shares of the financial services provider's stock after selling 1,091,367 shares during the period. Artemis Investment Management LLP owned approximately 0.22% of Ally Financial worth $30,158,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ally Financial in the fourth quarter worth about $29,000. Mather Group LLC. purchased a new stake in shares of Ally Financial in the third quarter worth about $31,000. Larson Financial Group LLC boosted its position in shares of Ally Financial by 67.0% in the third quarter. Larson Financial Group LLC now owns 1,072 shares of the financial services provider's stock worth $42,000 after buying an additional 430 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Ally Financial by 98.7% in the third quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the financial services provider's stock worth $44,000 after buying an additional 552 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Ally Financial by 53.5% in the third quarter. Allworth Financial LP now owns 1,154 shares of the financial services provider's stock worth $45,000 after buying an additional 402 shares during the period. Hedge funds and other institutional investors own 88.76% of the company's stock.

Insider Activity at Ally Financial

In other 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 transaction of $1,792,119.75. Following the completion of the sale, the insider owned 477,627 shares in the company, valued at approximately $21,574,411.59. This represents a 7.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

ALLY has been the topic of several recent analyst reports. UBS Group set a $48.00 price target on Ally Financial in a research note on Monday, January 12th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $52.00 price target on shares of Ally Financial in a research note on Monday, January 12th. TD Cowen reiterated a "buy" rating on shares of Ally Financial in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Ally Financial from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Finally, Truist Financial set a $54.00 price target on Ally Financial in a research note on Tuesday, April 21st. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Ally Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.14.

Ally Financial Stock Performance

Shares of NYSE ALLY opened at $43.38 on Friday. The stock has a fifty day moving average price of $40.63 and a two-hundred day moving average price of $41.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $13.36 billion, a P/E ratio of 10.58, a PEG ratio of 0.27 and a beta of 1.12. Ally Financial Inc. has a 1 year low of $32.28 and a 1 year high of $47.27.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) 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 firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company posted $0.58 EPS. The firm's quarterly revenue was up 36.4% on a year-over-year basis. Research analysts forecast that Ally Financial Inc. will post 5.3 EPS for the current fiscal year.

Ally Financial Announces Dividend

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

Ally Financial Profile

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.

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