Employees Retirement System of Texas Trims Stock Position in Ally Financial Inc. $ALLY

Key Points

• Employees Retirement System of Texas trimmed its Ally Financial stake by 1.8% in the fourth quarter, though it still held 1,666,846 shares valued at about $75.5 million.
• Ally Financial reported better-than-expected quarterly results, with EPS of $1.11 versus $0.93 expected and revenue of $2.18 billion, up 36.4% year over year.
• The company continues to receive positive analyst coverage, with a consensus rating of Moderate Buy and an average price target of $54.14; Ally also paid a quarterly dividend of $0.30 per share.

Employees Retirement System of Texas cut its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,666,846 shares of the financial services provider's stock after selling 29,800 shares during the quarter. Employees Retirement System of Texas owned about 0.54% of Ally Financial worth $75,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Chung Wu Investment Group LLC grew its position in Ally Financial by 224.1% during the third quarter. Chung Wu Investment Group LLC now owns 38,890 shares of the financial services provider's stock worth $1,524,000 after buying an additional 26,890 shares in the last quarter. NewSquare Capital LLC increased its stake in Ally Financial by 21,520.9% in the 3rd quarter. NewSquare Capital LLC now owns 27,891 shares of the financial services provider's stock worth $1,093,000 after acquiring an additional 27,762 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ally Financial in the 3rd quarter valued at about $1,194,000. Prana Capital Management LP boosted its position in shares of Ally Financial by 177.3% during the 3rd quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider's stock valued at $7,007,000 after acquiring an additional 114,305 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Ally Financial by 7.5% during the 3rd quarter. Principal Financial Group Inc. now owns 674,471 shares of the financial services provider's stock valued at $26,439,000 after acquiring an additional 47,184 shares during the last quarter. 88.76% of the stock is owned by institutional investors.

Ally Financial Stock Performance

Shares of NYSE ALLY opened at $42.70 on Wednesday. The stock's 50-day moving average is $41.70 and its 200 day moving average is $41.96. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 0.26 and a beta of 1.12. Ally Financial Inc. has a 1-year low of $33.81 and a 1-year high of $47.27. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.31.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.18. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.Ally Financial's revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 earnings per share. On average, sell-side analysts anticipate that Ally Financial Inc. will post 5.3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. Ally Financial's dividend payout ratio (DPR) is currently 29.27%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALLY shares. The Goldman Sachs Group upped their price objective on shares of Ally Financial from $50.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Evercore reissued an "outperform" rating and issued a $54.00 price target on shares of Ally Financial in a research note on Tuesday, April 21st. Morgan Stanley increased their price target on shares of Ally Financial from $53.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, April 20th. Bank of America raised their price objective on shares of Ally Financial from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, April 10th. Finally, Barclays lifted their price objective on shares of Ally Financial from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Monday, April 20th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Ally Financial currently has a consensus rating of "Moderate Buy" and an average price target of $54.14.

Insiders Place Their Bets

In other news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the transaction, the insider owned 93,927 shares in the company, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $45.17, for a total value of $1,792,119.75. Following the completion of the transaction, the insider owned 477,627 shares in the company, valued at approximately $21,574,411.59. This represents a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.46% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.