Fortis Group Advisors LLC bought a new position in Ally Financial Inc. (NYSE:ALLY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,462 shares of the financial services provider's stock, valued at approximately $418,000.
Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Ally Financial by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 28,252,149 shares of the financial services provider's stock valued at $1,017,360,000 after buying an additional 111,231 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Ally Financial by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 4,895,467 shares of the financial services provider's stock valued at $175,990,000 after buying an additional 184,278 shares during the last quarter. First Manhattan CO. LLC. boosted its position in shares of Ally Financial by 4.8% during the fourth quarter. First Manhattan CO. LLC. now owns 4,226,639 shares of the financial services provider's stock valued at $153,752,000 after buying an additional 192,295 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Ally Financial by 84.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider's stock valued at $151,320,000 after buying an additional 1,918,965 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Ally Financial by 28.0% during the fourth quarter. Northern Trust Corp now owns 3,941,459 shares of the financial services provider's stock valued at $141,932,000 after buying an additional 863,052 shares during the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.
Ally Financial Stock Performance
Shares of NYSE ALLY traded down $0.36 during trading on Friday, hitting $39.88. The company had a trading volume of 5,849,873 shares, compared to its average volume of 3,767,882. The stock has a 50 day simple moving average of $37.23 and a 200 day simple moving average of $36.09. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.90 and a current ratio of 0.90. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $45.46. The firm has a market capitalization of $12.25 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 0.38 and a beta of 1.15.
Ally Financial (NYSE:ALLY - Get Free Report) last issued its 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 company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 9.53% and a net margin of 6.96%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Friday, August 1st. Ally Financial's dividend payout ratio (DPR) is presently 88.24%.
Insider Activity at Ally Financial
In other news, CFO Russell E. Hutchinson acquired 8,200 shares of Ally Financial stock in a transaction on Tuesday, April 22nd. The shares were acquired at an average price of $30.81 per share, with a total value of $252,642.00. Following the purchase, the chief financial officer directly owned 236,421 shares in the company, valued at $7,284,131.01. The trade was a 3.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie N. Richard sold 8,000 shares of Ally Financial stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $32.14, for a total value of $257,120.00. Following the completion of the sale, the insider directly owned 90,387 shares in the company, valued at approximately $2,905,038.18. The trade was a 8.13% decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities research analysts recently commented on ALLY shares. Truist Financial increased their price objective on Ally Financial from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. Citigroup reissued 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. BTIG Research raised Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on Ally Financial from $36.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $42.67.
Get Our Latest Stock Report on ALLY
Ally Financial Company Profile
(
Free Report)
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.
Further Reading
Before you consider Ally Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ally Financial wasn't on the list.
While Ally Financial currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
