Ally Financial Inc. (NYSE:ALLY) Shares Sold by Barnett & Company Inc.

Key Points

• Barnett & Company Inc. reduced its stake in Ally Financial Inc. by 35.2%, holding 40,600 shares worth approximately $1.48 million, making it the company's 28th largest position.
• Several institutional investors, including Jacobs Levy Equity Management and Janus Henderson Group, significantly increased their stakes in Ally Financial during the 4th quarter, with some increases exceeding 6,200%.
• Ally Financial announced a quarterly dividend of $0.30 per share, representing a yield of 3.2%, with a scheduled payment date of August 15th for investors of record on August 1st.

Barnett & Company Inc. cut its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 35.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,600 shares of the financial services provider's stock after selling 22,020 shares during the quarter. Ally Financial makes up approximately 1.2% of Barnett & Company Inc.'s investment portfolio, making the stock its 28th largest position. Barnett & Company Inc.'s holdings in Ally Financial were worth $1,481,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Ally Financial during the 1st quarter valued at approximately $1,998,000. Teacher Retirement System of Texas acquired a new stake in shares of Ally Financial in the first quarter valued at about $1,462,000. Bessemer Group Inc. increased 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 worth $37,000 after purchasing an additional 377 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Ally Financial by 56.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock worth $2,466,000 after purchasing an additional 24,372 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Ally Financial by 40.6% in the 1st quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock valued at $120,000 after buying an additional 952 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Ally Financial Trading Up 0.8%

Shares of NYSE:ALLY traded up $0.32 during mid-day trading on Wednesday, reaching $38.63. 234,527 shares of the company were exchanged, compared to its average volume of 3,940,507. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $43.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The firm's 50-day simple moving average is $38.29 and its 200 day simple moving average is $36.27. The firm has a market cap of $11.89 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 0.29 and a beta of 1.16.

Ally Financial (NYSE:ALLY - Get Free Report) last released 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. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business posted $0.97 earnings per share. The company's quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.1%. Ally Financial's dividend payout ratio (DPR) is presently 77.92%.

Analysts Set New Price Targets

Several brokerages recently commented on ALLY. Wells Fargo & Company dropped their price target on Ally Financial from $34.00 to $32.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a research report on Monday, July 14th. Truist Financial increased their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wall Street Zen upgraded Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $42.80.

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.