Causeway Capital Management LLC Purchases 228,019 Shares of Ally Financial Inc. $ALLY

Key Points

• Causeway Capital Management LLC increased its holdings of Ally Financial Inc. by 53.9%, acquiring an additional 228,019 shares and bringing its total ownership to 651,383 shares valued at approximately $23.76 million.
• Ally Financial reported earnings of $0.99 per share, surpassing analyst estimates by $0.21 and achieving a 3.0% year-over-year revenue growth to $2.08 billion.
• The company recently declared a quarterly dividend of $0.30 per share, representing an annual yield of 2.9%, with a payout ratio of approximately 77.92%.

Causeway Capital Management LLC boosted its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 53.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 651,383 shares of the financial services provider's stock after acquiring an additional 228,019 shares during the period. Causeway Capital Management LLC owned approximately 0.21% of Ally Financial worth $23,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of ALLY. Copia Wealth Management acquired a new stake in Ally Financial during the 1st quarter worth approximately $27,000. SVB Wealth LLC acquired a new stake in Ally Financial in the 1st quarter valued at approximately $27,000. Private Trust Co. NA lifted its position in shares of Ally Financial by 125.7% in the first quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock worth $33,000 after purchasing an additional 509 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Ally Financial by 59.6% in the 1st 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 in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Ally Financial in the first quarter valued at approximately $74,000. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $40.70 on Tuesday. 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 market capitalization of $12.53 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 0.32 and a beta of 1.16. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $43.86. The company's 50-day moving average is $38.78 and its 200 day moving average is $36.28.

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

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, August 1st. Ally Financial's payout ratio is currently 77.92%.

Wall Street Analysts Forecast Growth

ALLY has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Citigroup reissued a "buy" rating and set a $59.00 target price (up previously from $55.00) on shares of Ally Financial in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Truist Financial upped their price target on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ally Financial presently has a consensus rating of "Hold" and a consensus target price of $42.80.

About Ally Financial

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.

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