Danica Pension Livsforsikringsaktieselskab Buys Shares of 477,879 Ally Financial Inc. $ALLY

Key Points

• Danica Pension initiated a 477,879-share stake in Ally Financial valued at approximately $22.0 million, while institutional investors collectively own 88.76% of the company.
• Ally reported quarterly revenue of $2.28 billion, up 9.8% year over year, but earnings per share of $1.21 narrowly missed analysts’ $1.22 estimate.
• The company pays a quarterly dividend of $0.30 per share, equating to a 2.7% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $53.64, compared with the stock’s $43.64 opening price.

Danica Pension Livsforsikringsaktieselskab purchased a new stake in Ally Financial Inc. (NYSE:ALLY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 477,879 shares of the financial services provider's stock, valued at approximately $21,959,000. Danica Pension Livsforsikringsaktieselskab owned about 0.16% of Ally Financial as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State of Wyoming purchased a new position in shares of Ally Financial during the 2nd quarter worth approximately $3,195,000. Intech Investment Management LLC purchased a new stake in Ally Financial in the fourth quarter valued at approximately $3,926,000. Evergreen Capital Management LLC raised its position in Ally Financial by 781.9% in the fourth quarter. Evergreen Capital Management LLC now owns 45,939 shares of the financial services provider's stock valued at $2,081,000 after purchasing an additional 40,730 shares during the period. Geode Capital Management LLC lifted its stake in Ally Financial by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock worth $243,795,000 after purchasing an additional 241,000 shares in the last quarter. Finally, Qsemble Capital Management LP lifted its stake in Ally Financial by 136.0% during the fourth quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider's stock worth $7,235,000 after purchasing an additional 92,043 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ally Financial

In related news, insider Stephanie N. 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 value of $221,150.00. Following the sale, the insider owned 88,927 shares of the company's stock, valued at $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.46% of the company's stock.

Ally Financial Trading Up 0.1%

NYSE:ALLY opened at $43.64 on Wednesday. The firm has a market cap of $13.28 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10. The stock has a fifty day moving average price of $44.85 and a 200 day moving average price of $42.62. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month high of $47.29. 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 (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.01). The company had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.Ally Financial's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. Sell-side analysts anticipate that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, July 31st. Ally Financial's dividend payout ratio is presently 28.30%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ALLY shares. Royal Bank Of Canada lifted their price objective on Ally Financial from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $58.00 target price on shares of Ally Financial in a report on Wednesday, July 22nd. Weiss Ratings raised Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Wells Fargo & Company boosted their price target on shares of Ally Financial from $52.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. Finally, Truist Financial reduced their price target on shares of Ally Financial from $54.00 to $51.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Ally Financial currently has an average rating of "Moderate Buy" and a consensus price target of $53.64.

Ally Financial Profile

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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