Ally Financial Inc. $ALLY Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in Ally Financial Inc. by 36.5%, selling 31,900 shares and now holding 55,583 shares valued at approximately $2,027,000.
• Several analysts have upgraded their price targets for Ally Financial, with Truist Financial and JPMorgan both raising their targets to $45.00 and Citigroup increasing its target to $59.00.
• Ally Financial reported earnings of $0.99 per share in its latest quarter, surpassing the consensus estimate of $0.78, with total quarterly revenue rising by 3.0% year-over-year to $2.08 billion.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 36.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,583 shares of the financial services provider's stock after selling 31,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Ally Financial were worth $2,027,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ALLY. Allspring Global Investments Holdings LLC purchased a new position in Ally Financial in the 1st quarter valued at about $1,998,000. Teacher Retirement System of Texas acquired a new stake in Ally Financial in the 1st quarter valued at about $1,462,000. Bessemer Group Inc. raised its holdings 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 during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Ally Financial by 56.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock worth $2,466,000 after buying an additional 24,372 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Ally Financial by 40.6% during the 1st quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock worth $120,000 after buying an additional 952 shares during the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Stock Up 5.7%

Shares of NYSE ALLY traded up $2.21 during mid-day trading on Friday, hitting $40.66. The company had a trading volume of 2,820,377 shares, compared to its average volume of 3,892,211. The company has a market capitalization of $12.52 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 0.30 and a beta of 1.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $43.86. The business's 50-day simple moving average is $38.61 and its 200 day simple moving average is $36.27.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.97 earnings per share. On average, analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. Ally Financial's payout ratio is presently 77.92%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. Truist Financial lifted 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. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. Citigroup reiterated a "buy" rating and issued a $59.00 target price (up previously from $55.00) on shares of Ally Financial in a report on Wednesday, July 2nd. Finally, BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $42.80.

About Ally Financial

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.