First Trust Advisors LP Reduces Position in Ally Financial Inc. $ALLY

Key Points

• First Trust Advisors cut its Ally Financial stake by 35.2% in the first quarter, selling 288,298 shares and retaining 530,356 shares worth approximately $20.8 million. Institutional investors and hedge funds own 88.76% of the company.
• Ally Financial reported quarterly revenue of $2.28 billion, up 9.8% year over year and above estimates, while EPS of $1.21 narrowly missed the $1.22 consensus forecast.
• The company declared a quarterly dividend of $0.30 per share, implying a 2.8% annualized yield. Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $53.86 versus a recent share price of $42.99.

First Trust Advisors LP decreased its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 35.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 530,356 shares of the financial services provider's stock after selling 288,298 shares during the quarter. First Trust Advisors LP owned about 0.17% of Ally Financial worth $20,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ALLY. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ally Financial in the 4th quarter valued at $29,000. Fideuram Asset Management Ireland dac acquired a new stake in Ally Financial during the 4th quarter worth about $35,000. Safe Harbor Fiduciary LLC purchased a new stake in Ally Financial during the 4th quarter valued at about $37,000. Harvest Fund Management Co. Ltd purchased a new stake in Ally Financial during the 4th quarter valued at about $38,000. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Ally Financial by 30.8% in the first quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 240 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Price Performance

Shares of ALLY opened at $42.99 on Thursday. The business's 50-day moving average is $44.40 and its two-hundred day moving average is $42.53. The company has a market capitalization of $13.08 billion, a P/E ratio of 10.14, a P/E/G ratio of 0.27 and a beta of 1.09. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the firm earned $0.99 EPS. The business's quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts predict that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, July 31st. Ally Financial's dividend payout ratio (DPR) is currently 28.30%.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the completion of the transaction, the insider directly owned 93,927 shares of the company's stock, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALLY. Wells Fargo & Company raised their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. Truist Financial set a $54.00 target price on Ally Financial in a research report on Tuesday, April 21st. Weiss Ratings upgraded Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Evercore reiterated an "outperform" rating and issued a $54.00 price target on shares of Ally Financial in a report on Tuesday, April 21st. Finally, Barclays raised their price target on shares of Ally Financial from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $53.86.

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.

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