First Manhattan CO. LLC. Purchases 32,121 Shares of Ally Financial Inc. $ALLY

Key Points

• First Manhattan CO. LLC increased its stake in Ally Financial Inc. by 0.8%, owning approximately 1.39% of the company, which is valued at $155.3 million as of the latest SEC filing.
• Multiple institutional investors, including Allspring Global Investments and Bessemer Group Inc., made significant changes to their positions in Ally Financial during the first quarter, contributing to an overall institutional ownership of 88.76%.
• Ally Financial reported earnings of $0.99 per share for the last quarter, surpassing analysts' consensus estimates and showing a year-over-year revenue growth of 3.0%.

First Manhattan CO. LLC. boosted its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 0.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,258,760 shares of the financial services provider's stock after acquiring an additional 32,121 shares during the period. First Manhattan CO. LLC. owned 1.39% of Ally Financial worth $155,317,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in Ally Financial in the 1st quarter valued at $1,998,000. Teacher Retirement System of Texas bought a new stake in Ally Financial in the 1st quarter valued at $1,462,000. Bessemer Group Inc. lifted its position in Ally Financial by 59.6% in the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 377 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Ally Financial by 56.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock valued at $2,466,000 after acquiring an additional 24,372 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Ally Financial by 40.6% in the 1st quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock valued at $120,000 after acquiring an additional 952 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALLY. JPMorgan Chase & Co. upped their target price on shares of Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $47.00 target price (up from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. Truist Financial upped their target price on shares of Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Citigroup reaffirmed a "buy" rating and issued a $59.00 target price (up from $55.00) on shares of Ally Financial in a report on Wednesday, July 2nd. Finally, Wall Street Zen raised shares of Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.67.

Ally Financial Price Performance

NYSE:ALLY traded down $0.20 on Friday, hitting $41.37. The company had a trading volume of 3,612,063 shares, compared to its average volume of 3,821,834. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 0.32 and a beta of 1.14. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $39.37 and a two-hundred day moving average of $36.47. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $42.46.

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

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, August 1st. Ally Financial's dividend payout ratio (DPR) is currently 77.92%.

Ally Financial Company 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.