Canada Pension Plan Investment Board Acquires Shares of 292,300 Ally Financial Inc. $ALLY

Key Points

• The Canada Pension Plan Investment Board invested approximately $10.66 million in Ally Financial Inc., acquiring 292,300 shares in the first quarter.
• Ally Financial's stock is receiving positive analyst ratings, with multiple brokerages raising their price targets to between $45.00 and $59.00.
• Ally Financial announced a quarterly dividend of $0.30, resulting in an annualized dividend yield of 2.9%.

Canada Pension Plan Investment Board acquired a new position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 292,300 shares of the financial services provider's stock, valued at approximately $10,660,000. Canada Pension Plan Investment Board owned approximately 0.10% of Ally Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tidal Investments LLC grew its stake in Ally Financial by 1.1% in the 4th quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider's stock worth $946,000 after buying an additional 280 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Ally Financial by 4.9% during the 4th quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider's stock worth $229,000 after acquiring an additional 297 shares during the last quarter. Signet Financial Management LLC lifted its holdings in shares of Ally Financial by 5.6% during the 1st quarter. Signet Financial Management LLC now owns 6,724 shares of the financial services provider's stock worth $245,000 after acquiring an additional 357 shares during the last quarter. Lido Advisors LLC grew its position in Ally Financial by 5.9% in the fourth quarter. Lido Advisors LLC now owns 6,455 shares of the financial services provider's stock worth $232,000 after acquiring an additional 359 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Ally Financial by 59.6% in the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 377 shares during the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALLY has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. JPMorgan Chase & Co. raised their price objective on Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Citigroup reaffirmed a "buy" rating and issued a $59.00 target price (up previously from $55.00) on shares of Ally Financial in a research note on Wednesday, July 2nd. Truist Financial lifted their price target on shares of Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.67.

Ally Financial Trading Down 0.5%

NYSE:ALLY traded down $0.20 during midday trading on Friday, reaching $41.37. 3,612,063 shares of the stock traded hands, compared to its average volume of 2,389,406. The stock has a market capitalization of $12.73 billion, a P/E ratio of 26.86, a PEG ratio of 0.32 and a beta of 1.13. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The company has a fifty day moving average of $39.42 and a 200 day moving average of $36.45. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $42.46.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.21. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 earnings per share. On average, research analysts predict that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Ally Financial's dividend payout ratio is presently 77.92%.

Ally Financial Company Profile

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.