Legal & General Group Plc Takes $20.71 Million Position in Ally Financial Inc. $ALLY

Key Points

• Legal & General Group Plc acquired 450,825 Ally Financial shares worth approximately $20.7 million, giving it a 0.15% stake. Institutional investors and hedge funds collectively own 88.76% of ALLY.
• Ally Financial reported quarterly revenue of $2.28 billion, up 9.8% year over year, but earnings per share of $1.21 narrowly missed analysts’ $1.22 estimate.
• Analysts maintain a positive outlook, with 14 Buy ratings and two Holds, a “Moderate Buy” consensus, and an average price target of $53.64 versus the stock’s reported $42.20 price.

Legal & General Group Plc bought a new position in Ally Financial Inc. (NYSE:ALLY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 450,825 shares of the financial services provider's stock, valued at approximately $20,715,000. Legal & General Group Plc owned approximately 0.15% of Ally Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALLY. BlackRock Inc. bought a new stake in Ally Financial during the second quarter worth approximately $1,315,659,000. Wellington Management Group LLP increased its holdings in shares of Ally Financial by 19.5% in the fourth quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider's stock valued at $646,347,000 after buying an additional 2,332,610 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ally Financial by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider's stock valued at $353,776,000 after buying an additional 309,638 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Ally Financial by 11.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider's stock valued at $266,134,000 after acquiring an additional 712,443 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Ally Financial by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock valued at $243,795,000 after acquiring an additional 241,000 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Price Performance

ALLY opened at $42.20 on Friday. The firm has a market capitalization of $12.84 billion, a P/E ratio of 9.95, a PEG ratio of 0.26 and a beta of 1.10. The stock has a fifty day moving average of $44.52 and a 200-day moving average of $42.63. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month 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 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 company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company posted $0.99 EPS. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts forecast that Ally Financial Inc. will post 5.19 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Ally Financial's dividend payout ratio is 28.30%.

Insider Buying and Selling at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the transaction, the insider directly owned 88,927 shares of the company's stock, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings upgraded Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 23rd. Truist Financial decreased their price target on Ally Financial from $54.00 to $51.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Bank of America lifted their price target on Ally Financial from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Wells Fargo & Company boosted their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Finally, Royal Bank Of Canada upped their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, July 10th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.64.

Ally Financial Company Profile

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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