Goldman Sachs Group Inc. Increases Position 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. raised its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 35.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,379,207 shares of the financial services provider's stock after purchasing an additional 616,247 shares during the period. Goldman Sachs Group Inc. owned 0.77% of Ally Financial worth $86,770,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALLY. Wellington Management Group LLP acquired a new position in Ally Financial during the first quarter worth approximately $253,881,000. Millennium Management LLC grew its stake in shares of Ally Financial by 234.7% during the first quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider's stock valued at $136,838,000 after acquiring an additional 2,630,981 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Ally Financial by 173.2% during the first quarter. AQR Capital Management LLC now owns 1,377,717 shares of the financial services provider's stock valued at $49,984,000 after acquiring an additional 873,380 shares in the last quarter. Amundi grew its holdings in Ally Financial by 53.9% during the 1st quarter. Amundi now owns 1,778,604 shares of the financial services provider's stock worth $64,866,000 after acquiring an additional 622,601 shares in the last quarter. Finally, Eisler Capital Management Ltd. acquired a new position in Ally Financial during the 1st quarter worth $22,651,000. Institutional investors and hedge funds own 88.76% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALLY. Wells Fargo & Company raised shares of Ally Financial from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $37.00 to $45.00 in a report on Tuesday, September 2nd. Truist Financial boosted their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley reissued an "overweight" rating and issued a $47.00 target price (up from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. Finally, Wall Street Zen raised shares of Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.67.

Ally Financial Stock Up 0.3%

Shares of NYSE ALLY opened at $42.22 on Friday. The firm's 50-day moving average is $39.54 and its 200-day moving average is $36.62. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $42.46. The firm has a market capitalization of $13.00 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 0.33 and a beta of 1.14. 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 (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.21. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned $0.97 EPS. Ally Financial's quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts expect that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, August 1st. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial's dividend payout ratio (DPR) is presently 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.

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