Gabelli Funds LLC lifted its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 256.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,460 shares of the financial services provider's stock after purchasing an additional 103,250 shares during the quarter. Gabelli Funds LLC's holdings in Ally Financial were worth $5,628,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in ALLY. Norges Bank acquired a new stake in Ally Financial in the 4th quarter valued at $157,610,000. Wellington Management Group LLP grew its holdings in shares of Ally Financial by 19.5% in the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider's stock valued at $646,347,000 after acquiring an additional 2,332,610 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Ally Financial by 8,255.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider's stock valued at $48,231,000 after acquiring an additional 1,215,659 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Ally Financial by 38.9% in the 2nd quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider's stock valued at $146,888,000 after acquiring an additional 1,056,060 shares in the last quarter. Finally, Soros Fund Management LLC increased its position in shares of Ally Financial by 128.8% in the fourth quarter. Soros Fund Management LLC now owns 1,687,493 shares of the financial services provider's stock valued at $76,427,000 after acquiring an additional 949,793 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.
Ally Financial Trading Up 1.8%
Ally Financial stock opened at $43.67 on Tuesday. The stock has a 50-day simple moving average of $44.33 and a 200 day simple moving average of $42.57. The stock has a market capitalization of $13.39 billion, a P/E ratio of 10.30, a PEG ratio of 0.27 and a beta of 1.09. 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 Inc. has a 52 week low of $35.92 and a 52 week high of $47.29.
Ally Financial (NYSE:ALLY - Get Free Report) last released 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 business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the company earned $0.99 EPS. Ally Financial's quarterly revenue was up 9.8% on a year-over-year basis. Analysts expect that Ally Financial Inc. will post 5.19 earnings per share for the current year.
Ally Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, July 31st. Ally Financial's dividend payout ratio is 28.30%.
Analyst Ratings Changes
ALLY has been the topic of several analyst reports. The Goldman Sachs Group upped their target price on Ally Financial from $50.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Morgan Stanley boosted their price target on Ally Financial from $53.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. Truist Financial set a $54.00 price objective on Ally Financial in a research note on Tuesday, April 21st. Wells Fargo & Company increased their price objective on Ally Financial from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Finally, Wall Street Zen cut shares of Ally Financial from a "buy" rating to a "hold" rating in a research note on Monday, June 8th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Ally Financial presently has an average rating of "Moderate Buy" and an average price target of $53.86.
Check Out Our Latest Research Report on Ally Financial
Insider Transactions at Ally Financial
In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the firm's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the sale, the insider owned 93,927 shares of the company's stock, valued at $3,958,083.78. This trade represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.
Ally Financial Company Profile
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Free Report)
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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