Goldman Sachs Group Inc. Increases Stock Holdings in Ally Financial Inc. $ALLY

Key Points

• Goldman Sachs increased its stake in Ally Financial by 35%, owning over 2.3 million shares valued at approximately $86.77 million after purchasing additional shares.
• Several institutional investors, including Wellington Management and Millennium Management, also boosted their positions in Ally Financial, reflecting strong interest as 88.76% of the company's stock is held by institutional investors.
• Analysts have shown positive sentiment towards Ally Financial, with multiple upgrades and an average target price of $43.67 indicating a Moderate Buy consensus rating.

Goldman Sachs Group Inc. grew its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,379,207 shares of the financial services provider's stock after acquiring an additional 616,247 shares during the quarter. Goldman Sachs Group Inc. owned about 0.77% of Ally Financial worth $86,770,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ALLY. Captrust Financial Advisors increased its holdings in shares of Ally Financial by 49.7% during the fourth quarter. Captrust Financial Advisors now owns 8,910 shares of the financial services provider's stock valued at $321,000 after acquiring an additional 2,958 shares in the last quarter. Cetera Investment Advisers increased its holdings in Ally Financial by 192.7% in the 4th quarter. Cetera Investment Advisers now owns 53,364 shares of the financial services provider's stock worth $1,922,000 after buying an additional 35,130 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ally Financial by 49.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,002 shares of the financial services provider's stock worth $1,909,000 after buying an additional 17,450 shares during the period. OMERS ADMINISTRATION Corp increased its holdings in Ally Financial by 20.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 11,348 shares of the financial services provider's stock worth $409,000 after buying an additional 1,903 shares during the period. Finally, Man Group plc increased its holdings in Ally Financial by 40.2% in the 4th quarter. Man Group plc now owns 276,812 shares of the financial services provider's stock worth $9,968,000 after buying an additional 79,428 shares during the period. Institutional investors and hedge funds own 88.76% of the company's stock.

Analysts Set New Price Targets

ALLY has been the topic of several research reports. BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Morgan Stanley reiterated an "overweight" rating and issued a $47.00 price target (up previously from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. Citigroup increased their price target on shares of Ally Financial from $59.00 to $70.00 and gave the stock a "buy" rating in a report on Monday. Finally, Truist Financial increased their price target on shares of Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Ally Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.40.

Ally Financial Stock Performance

Ally Financial stock traded up $0.65 during mid-day trading on Thursday, hitting $44.60. The company had a trading volume of 3,068,570 shares, compared to its average volume of 2,553,728. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $44.76. The company's fifty day moving average is $39.80 and its 200-day moving average is $36.82. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 0.34 and a beta of 1.14.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.78 by $0.21. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. The business's quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given 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 2.7%. Ally Financial's dividend payout ratio (DPR) is 77.92%.

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.