Empowered Funds LLC Has $797,000 Position in Ally Financial Inc. $ALLY

Key Points

• Empowered Funds LLC cut its Ally Financial stake by 65.6% in the first quarter, selling 38,689 shares and retaining 20,316 shares valued at approximately $797,000.
• Ally Financial reported quarterly revenue of $2.28 billion, up 9.8% year over year, while earnings of $1.21 per share narrowly missed analyst expectations. The company also declared a quarterly dividend of $0.30 per share, representing a 2.7% yield.
• Analysts remain broadly positive, with 14 Buy ratings and two Hold ratings, producing a “Moderate Buy” consensus and an average price target of $53.64 versus the stock’s reported price of $43.70.

Empowered Funds LLC lowered its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 65.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,316 shares of the financial services provider's stock after selling 38,689 shares during the quarter. Empowered Funds LLC's holdings in Ally Financial were worth $797,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Ally Financial by 106.5% in the 1st 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 lifted its position in shares of 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 buying an additional 415 shares during the period. Focus Partners Wealth bought a new position in shares of Ally Financial during the 1st quarter worth approximately $259,000. EverSource Wealth Advisors LLC boosted its stake in Ally Financial by 374.9% in 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 in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in Ally Financial by 19.1% in the 2nd quarter. Baird Financial Group Inc. now owns 23,398 shares of the financial services provider's stock valued at $911,000 after buying an additional 3,751 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Price Performance

Ally Financial stock opened at $43.70 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $13.29 billion, a P/E ratio of 10.31, a P/E/G ratio of 0.27 and a beta of 1.10. The business's fifty day moving average is $44.59 and its two-hundred day moving average is $42.53. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the company posted $0.99 EPS. Ally Financial's revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts forecast that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. Ally Financial's payout ratio is currently 28.30%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Bank of America increased their price objective on Ally Financial from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $58.00 target price on shares of Ally Financial in a report on Wednesday, July 22nd. Citigroup cut their price target on shares of Ally Financial from $70.00 to $58.00 and set a "buy" rating for the company in a report on Tuesday, June 23rd. Royal Bank Of Canada boosted their price target on shares of Ally Financial from $52.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, July 10th. Finally, Truist Financial decreased their price objective on shares of Ally Financial from $54.00 to $51.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.64.

Insider Buying and Selling at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the company'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 transaction of $221,150.00. Following the transaction, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

Ally Financial Company 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source