Legacy Trust Cuts Stock Position in Ally Financial Inc. $ALLY

Key Points

• Legacy Trust has reduced its stake in Ally Financial Inc. by 10.9%, now holding 98,309 shares valued at approximately $3.83 million.
• Analysts remain optimistic about Ally Financial, with a consensus rating of "Moderate Buy" and an average price target of $45.36.
• Ally Financial recently reported better-than-expected quarterly earnings with an EPS of $0.99, exceeding analysts' estimates by $0.21.

Legacy Trust lessened its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,309 shares of the financial services provider's stock after selling 12,052 shares during the quarter. Legacy Trust's holdings in Ally Financial were worth $3,829,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. 111 Capital purchased a new stake in shares of Ally Financial in the 2nd quarter valued at $490,000. Janney Montgomery Scott LLC raised its holdings in shares of Ally Financial by 1.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 68,926 shares of the financial services provider's stock valued at $2,685,000 after buying an additional 1,296 shares during the period. True North Advisors LLC raised its holdings in shares of Ally Financial by 61.8% in the 2nd quarter. True North Advisors LLC now owns 20,503 shares of the financial services provider's stock valued at $799,000 after buying an additional 7,833 shares during the period. GAMMA Investing LLC raised its holdings in shares of Ally Financial by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 4,821 shares of the financial services provider's stock valued at $188,000 after buying an additional 1,526 shares during the period. Finally, Sweeney & Michel LLC purchased a new stake in Ally Financial during the 2nd quarter worth about $259,000. Hedge funds and other institutional investors own 88.76% of the company's stock.

Analyst Ratings Changes

ALLY has been the topic of several recent research reports. Royal Bank Of Canada restated an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. JPMorgan Chase & Co. upped their price target on Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Truist Financial upped their price target on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Weiss Ratings restated a "hold (c)" rating on shares of Ally Financial in a report on Saturday, September 27th. Finally, Keefe, Bruyette & Woods cut their price target on Ally Financial from $56.00 to $51.00 and set an "outperform" rating on the stock in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $45.36.

Ally Financial Trading Up 1.9%

ALLY opened at $39.58 on Friday. Ally Financial Inc. has a one year low of $29.52 and a one year high of $44.83. The company has a market cap of $12.18 billion, a P/E ratio of 25.70, a PEG ratio of 0.31 and a beta of 1.18. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The business's 50-day simple moving average is $40.12 and its 200-day simple moving average is $37.33.

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, beating analysts' consensus estimates 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 the consensus estimate of $2.03 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The business's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.30 dividend. 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 dividend payout ratio is presently 77.92%.

Ally Financial Company Profile

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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