California State Teachers Retirement System Buys 60,579 Shares of Ally Financial Inc. $ALLY

Key Points

• California State Teachers Retirement System increased its Ally Financial stake by 23.2% in the first quarter, purchasing 60,579 additional shares and bringing its holdings to 321,251 shares worth approximately $12.6 million. Institutional investors collectively own 88.76% of the company.
• Ally Financial reported quarterly revenue of $2.28 billion, up 9.8% year over year, while earnings per share of $1.21 narrowly missed analyst expectations. The company also declared a quarterly dividend of $0.30 per share, implying a 2.8% annualized yield.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $53.86 versus the stock’s reported price of $43.37.

California State Teachers Retirement System increased its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 23.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 321,251 shares of the financial services provider's stock after buying an additional 60,579 shares during the period. California State Teachers Retirement System owned 0.10% of Ally Financial worth $12,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Ally Financial by 19.5% in the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider's stock worth $646,347,000 after acquiring an additional 2,332,610 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ally Financial by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider's stock valued at $353,776,000 after acquiring an additional 309,638 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Ally Financial by 11.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider's stock valued at $266,134,000 after purchasing an additional 712,443 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Ally Financial by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock valued at $243,795,000 after purchasing an additional 241,000 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in Ally Financial by 0.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,867,023 shares of the financial services provider's stock worth $175,137,000 after purchasing an additional 20,198 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

Ally Financial Stock Performance

Shares of ALLY stock opened at $43.37 on Monday. The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 0.27 and a beta of 1.09. Ally Financial Inc. has a 52-week low of $35.92 and a 52-week high of $47.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company's 50 day moving average is $44.44 and its 200 day moving average is $42.51.

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

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.30 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Ally Financial's payout ratio is currently 28.30%.

Analyst Ratings Changes

ALLY has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their target price on Ally Financial from $52.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, July 10th. Morgan Stanley increased their price target on Ally Financial from $53.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $58.00 price target on shares of Ally Financial in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. cut 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. Finally, Evercore restated an "outperform" rating and issued a $54.00 price objective on shares of Ally Financial in a report on Tuesday, April 21st. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $53.86.

Insider Buying and Selling

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the business'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 completion of the transaction, the insider directly owned 93,927 shares in the company, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company's stock.

About Ally Financial

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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