BlackRock Inc. purchased a new position in Ally Financial Inc. (NYSE:ALLY - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,632,394 shares of the financial services provider's stock, valued at approximately $1,315,659,000. BlackRock Inc. owned about 9.41% of Ally Financial as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. lifted its holdings in Ally Financial by 30.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider's stock worth $40,000 after buying an additional 240 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Ally Financial by 3.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider's stock worth $314,000 after acquiring an additional 243 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Ally Financial by 31.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,052 shares of the financial services provider's stock worth $48,000 after purchasing an additional 252 shares during the last quarter. Triumph Capital Management lifted its stake in Ally Financial by 9.2% during the fourth quarter. Triumph Capital Management now owns 3,133 shares of the financial services provider's stock worth $142,000 after purchasing an additional 265 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Ally Financial by 25.0% in the fourth quarter. Larson Financial Group LLC now owns 1,340 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.
Insiders Place Their Bets
In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the transaction, the insider owned 88,927 shares of the company's stock, valued at $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company's stock.
Ally Financial Stock Performance
NYSE:ALLY opened at $42.39 on Friday. The firm's fifty day moving average price is $44.85 and its 200 day moving average price is $42.63. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $12.90 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10.
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 analysts' consensus estimates of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the business posted $0.99 EPS. Ally Financial's revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Ally Financial Inc. will post 5.19 EPS for the current year.
Ally Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial's dividend payout ratio is 28.30%.
Analyst Ratings Changes
Several brokerages have commented on ALLY. Wells Fargo & Company increased their price target on shares of Ally Financial from $52.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Royal Bank Of Canada upped their target price on shares of Ally Financial from $52.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, July 10th. Weiss Ratings raised shares of Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Bank of America lifted their price target on shares of Ally Financial from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $58.00 price target on shares of Ally Financial in a research report on Wednesday, July 22nd. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.64.
View Our Latest Stock Analysis on ALLY
Ally Financial Profile
(
Free Report)
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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