Ally Financial Inc. $ALLY Shares Sold by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System reduced its Ally Financial stake by 2.9%, selling 9,253 shares and retaining 311,998 shares valued at approximately $14.3 million. Institutional investors collectively own 88.76% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $53.73. Recent targets range from $51 to $58, although one analyst downgraded the stock to “Hold.”
• Ally Financial shares fell 2.0% to $41.10, while quarterly results showed $1.21 in adjusted EPS—slightly below estimates—and $2.28 billion in revenue, above expectations and up 9.8% year over year. The company also maintains a $0.30 quarterly dividend, yielding about 2.9%.

California State Teachers Retirement System cut its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 311,998 shares of the financial services provider's stock after selling 9,253 shares during the quarter. California State Teachers Retirement System owned about 0.10% of Ally Financial worth $14,336,308 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Fideuram Asset Management Ireland dac purchased a new stake in shares of Ally Financial during the 4th quarter valued at $35,000. Trust Co. of Vermont bought a new position in Ally Financial during the second quarter valued at about $36,000. Harvest Fund Management Co. Ltd bought a new position in shares of Ally Financial in the fourth quarter worth about $38,000. SJS Investment Consulting Inc. lifted its holdings in Ally Financial by 30.8% during the first quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider's stock worth $40,000 after acquiring an additional 240 shares in the last quarter. Finally, Clearstead Advisors LLC increased its holdings in Ally Financial by 107.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,043 shares of the financial services provider's stock worth $47,000 after buying an additional 541 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALLY shares. Bank of America boosted their target price on shares of Ally Financial from $52.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $58.00 target price on shares of Ally Financial in a research report on Wednesday, July 22nd. Truist Financial cut their price target on shares of Ally Financial from $54.00 to $51.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Finally, Wall Street Zen lowered shares of Ally Financial from a "buy" rating to a "hold" rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $53.73.

Ally Financial Trading Down 2.0%

Shares of Ally Financial stock traded down $0.83 during trading on Tuesday, hitting $41.10. 4,127,964 shares of the company were exchanged, compared to its average volume of 3,440,883. The firm has a market capitalization of $12.50 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 0.26 and a beta of 1.09. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29. The firm's fifty day moving average price is $43.77 and its 200 day moving average price is $42.73. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92.

Ally Financial (NYSE:ALLY - Get Free Report) last posted 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). The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm's revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. As a group, sell-side analysts expect that Ally Financial Inc. will post 5.2 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, July 31st. Ally Financial's dividend payout ratio is presently 28.30%.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie Richard sold 5,000 shares of the firm's 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 completion of the transaction, the insider directly owned 88,927 shares of the company's stock, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Ally Financial Profile

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan. Through its subsidiaries, the company provides consumer and commercial financial products, with a primary focus on automotive financing and digital banking.

Ally's automotive business offers retail installment sales contracts, consumer loans and leasing products through a network of automotive dealers. The company also provides dealer financing and related commercial lending services. Through Ally Bank, it offers deposit accounts, personal loans, mortgage products and other banking services, while Ally Invest provides self-directed investment and brokerage services to individuals.

The company serves customers primarily in the United States through digital platforms, dealer relationships and other distribution channels.

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