Bessemer Group Inc. Sells 72,914 Shares of Ally Financial Inc. $ALLY

Key Points

• Bessemer Group cut its Ally Financial stake by 97.5%, selling 72,914 shares and retaining 1,849 shares valued at approximately $73,000.
• Ally reported quarterly revenue of $2.28 billion, up 9.8% year over year, though EPS of $1.21 narrowly missed estimates. The company declared a quarterly dividend of $0.30 per share, yielding about 2.7% annually.
• Wall Street remains broadly positive, with 14 analysts issuing Buy ratings and two assigning Hold ratings. The stock carries a “Moderate Buy” consensus and an average price target of $53.86 versus a recent price of $43.67.

Bessemer Group Inc. decreased its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 97.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,849 shares of the financial services provider's stock after selling 72,914 shares during the period. Bessemer Group Inc.'s holdings in Ally Financial were worth $73,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ALLY. Norges Bank acquired a new position in shares of Ally Financial in the 4th quarter valued at $157,610,000. Wellington Management Group LLP increased its stake in Ally Financial by 19.5% in the fourth quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider's stock valued at $646,347,000 after acquiring an additional 2,332,610 shares during the period. Qube Research & Technologies Ltd increased its stake in Ally Financial by 8,255.7% in the third quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider's stock valued at $48,231,000 after acquiring an additional 1,215,659 shares during the period. Bank of America Corp DE raised its position in Ally Financial by 38.9% in the second quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider's stock worth $146,888,000 after purchasing an additional 1,056,060 shares in the last quarter. Finally, Soros Fund Management LLC raised its position in Ally Financial by 128.8% in the fourth quarter. Soros Fund Management LLC now owns 1,687,493 shares of the financial services provider's stock worth $76,427,000 after purchasing an additional 949,793 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

Ally Financial Stock Up 1.8%

NYSE:ALLY opened at $43.67 on Tuesday. The stock's fifty day moving average price is $44.33 and its two-hundred day moving average price is $42.57. Ally Financial Inc. has a 52-week low of $35.92 and a 52-week high of $47.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 0.27 and a beta of 1.09.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.01). The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.99 earnings per share. On average, analysts anticipate that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. Ally Financial's dividend payout ratio is presently 28.30%.

Wall Street Analyst Weigh In

Several analysts recently commented on ALLY shares. JPMorgan Chase & Co. decreased their price target on Ally Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. The Goldman Sachs Group increased their price objective on Ally Financial from $50.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Morgan Stanley lifted their price objective on Ally Financial from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, April 20th. Weiss Ratings upgraded shares of Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 23rd. Finally, Evercore reaffirmed an "outperform" rating and issued a $54.00 target price on shares of Ally Financial in a report on Tuesday, April 21st. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $53.86.

Insider Transactions at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.14, for a total value of $210,700.00. Following the transaction, the insider owned 93,927 shares of the company's stock, valued at approximately $3,958,083.78. This trade represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.46% of the company's stock.

Ally Financial Company 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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