Credit Agricole S A Reduces Stock Holdings in Ally Financial Inc. $ALLY

Key Points

• Credit Agricole S A has reduced its holdings in Ally Financial Inc. by 43.4%, selling 26,852 shares, bringing its total shares owned to 35,042.
• Other institutional investors increased their stakes in Ally Financial, with notable purchases from Allspring Global Investments and Teacher Retirement System of Texas valued at approximately $1,998,000 and $1,462,000, respectively.
• Ally Financial reported a $0.99 EPS in its latest earnings, exceeding projections, and declared a quarterly dividend of $0.30, indicating an annual yield of 3.0%.

Credit Agricole S A lowered its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 43.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,042 shares of the financial services provider's stock after selling 26,852 shares during the quarter. Credit Agricole S A's holdings in Ally Financial were worth $1,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Ally Financial during the first quarter valued at $1,998,000. Teacher Retirement System of Texas purchased a new position in Ally Financial during the first quarter valued at $1,462,000. Bessemer Group Inc. lifted its position in Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after buying an additional 377 shares during the period. Janney Montgomery Scott LLC lifted its position in Ally Financial by 56.3% during the first quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock valued at $2,466,000 after buying an additional 24,372 shares during the period. Finally, GAMMA Investing LLC lifted its position in Ally Financial by 40.6% during the first quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock valued at $120,000 after buying an additional 952 shares during the period. Hedge funds and other institutional investors own 88.76% of the company's stock.

Analysts Set New Price Targets

ALLY has been the subject of several recent research reports. Citigroup reissued a "buy" rating and set a $59.00 price objective (up previously from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. 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 research report on Monday, July 21st. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Truist Financial lifted their price target on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $42.80.

Ally Financial Price Performance

ALLY opened at $40.5840 on Monday. The stock has a 50-day moving average price of $38.70 and a 200-day moving average price of $36.26. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $12.49 billion, a PE ratio of 26.35, a P/E/G ratio of 0.32 and a beta of 1.16. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $43.86.

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

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 1st. Ally Financial's dividend payout ratio (DPR) is presently 77.92%.

Ally Financial 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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.