Envestnet Asset Management Inc. Acquires 165,843 Shares of Ally Financial Inc. (NYSE:ALLY)

Envestnet Asset Management Inc. boosted its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 150.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,208 shares of the financial services provider's stock after acquiring an additional 165,843 shares during the period. Envestnet Asset Management Inc. owned 0.09% of Ally Financial worth $10,073,000 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. Harel Insurance Investments & Financial Services Ltd. grew its stake in Ally Financial by 37.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,500 shares of the financial services provider's stock worth $237,000 after purchasing an additional 1,780 shares during the period. IFM Investors Pty Ltd grew its position in shares of Ally Financial by 8.1% during the 1st quarter. IFM Investors Pty Ltd now owns 51,877 shares of the financial services provider's stock worth $1,846,000 after buying an additional 3,869 shares during the period. Leeward Investments LLC MA bought a new stake in shares of Ally Financial in the 1st quarter valued at $9,196,000. Checchi Capital Advisers LLC acquired a new position in shares of Ally Financial during the 1st quarter valued at $205,000. Finally, Principal Financial Group Inc. boosted its stake in Ally Financial by 0.5% during the first quarter. Principal Financial Group Inc. now owns 633,005 shares of the financial services provider's stock worth $23,086,000 after acquiring an additional 3,039 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Insider Activity

In related news, insider Stephanie N. Richard sold 8,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $32.14, for a total transaction of $257,120.00. Following the completion of the transaction, the insider directly owned 90,387 shares in the company, valued at $2,905,038.18. The trade was a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.67% of the company's stock.

Ally Financial Price Performance

ALLY stock traded down $1.04 during mid-day trading on Thursday, reaching $38.40. 3,172,797 shares of the company traded hands, compared to its average volume of 3,367,209. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $45.46. The company has a market capitalization of $11.80 billion, a P/E ratio of 24.94, a P/E/G ratio of 0.31 and a beta of 1.15. 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 company has a fifty day moving average price of $37.55 and a 200-day moving average price of $36.20.

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

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $0.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.12%. Ally Financial's payout ratio is currently 77.92%.

Analysts Set New Price Targets

Several analysts have recently commented on ALLY shares. Citigroup restated a "buy" rating and issued a $59.00 target price (up from $55.00) on shares of Ally Financial in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. Truist Financial lifted their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday. Compass Point raised shares of Ally Financial from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $37.00 to $41.00 in a research report on Monday, April 7th. Finally, Bank of America dropped their price target on shares of Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $42.80.

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.