Corient Private Wealth LP acquired a new stake in Ally Financial Inc. (NYSE:ALLY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 293,699 shares of the financial services provider's stock, valued at approximately $10,216,000. Corient Private Wealth LP owned about 0.10% of Ally Financial at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Ally Financial by 106.5% during the first quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider's stock valued at $9,158,000 after purchasing an additional 129,497 shares during the period. NewEdge Advisors LLC grew its position in Ally Financial by 22.8% during the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider's stock worth $82,000 after purchasing an additional 415 shares during the period. Empowered Funds LLC grew its position in Ally Financial by 11.1% during the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider's stock worth $470,000 after purchasing an additional 1,292 shares during the period. Focus Partners Wealth purchased a new position in shares of Ally Financial during the 1st quarter valued at about $259,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Ally Financial by 374.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider's stock valued at $58,000 after buying an additional 1,166 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.
Insider Buying and Selling
In related news, insider Stephanie N. Richard sold 5,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the sale, the insider owned 88,927 shares of the company's stock, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company's stock.
Ally Financial Stock Down 1.3%
Shares of ALLY opened at $42.20 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29. The stock's 50 day moving average is $44.52 and its two-hundred day moving average is $42.63. The firm has a market cap of $12.84 billion, a P/E ratio of 9.95, a PEG ratio of 0.26 and a beta of 1.10.
Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 earnings per share. Analysts predict that Ally Financial Inc. will post 5.19 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 paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Ally Financial's dividend payout ratio (DPR) is currently 28.30%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on ALLY. Weiss Ratings upgraded Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $58.00 price target on shares of Ally Financial in a research report on Wednesday, July 22nd. Wells Fargo & Company boosted their price target on Ally Financial from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Royal Bank Of Canada upped their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Finally, Bank of America raised their price objective 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. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.64.
Read Our Latest Stock Report on Ally Financial
Ally Financial Company 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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Want to see what other hedge funds are holding ALLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ally Financial Inc. (NYSE:ALLY - Free Report).
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