MetLife Investment Management LLC Increases Holdings in Ally Financial Inc. $ALLY

Key Points

• MetLife Investment Management LLC increased its holdings in Ally Financial by 70.4% during the first quarter, owning a total of 266,284 shares worth approximately $9.7 million.
• Ally Financial reported earnings per share of $0.99 for the quarter, exceeding analysts' expectations by $0.21, with total revenue of $2.08 billion, a 3.0% year-over-year increase.
• The company declared a quarterly dividend of $0.30, representing an annual yield of 2.9%, with a current dividend payout ratio of approximately 77.92%.

MetLife Investment Management LLC lifted its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 70.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 266,284 shares of the financial services provider's stock after purchasing an additional 110,042 shares during the period. MetLife Investment Management LLC owned 0.09% of Ally Financial worth $9,711,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Tidal Investments LLC lifted its holdings in Ally Financial by 1.1% during the fourth quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider's stock worth $946,000 after buying an additional 280 shares during the period. EP Wealth Advisors LLC lifted its holdings in Ally Financial by 4.9% during the fourth quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider's stock worth $229,000 after buying an additional 297 shares during the period. Signet Financial Management LLC lifted its holdings in Ally Financial by 5.6% during the first quarter. Signet Financial Management LLC now owns 6,724 shares of the financial services provider's stock worth $245,000 after buying an additional 357 shares during the period. Lido Advisors LLC lifted its holdings in Ally Financial by 5.9% during the fourth quarter. Lido Advisors LLC now owns 6,455 shares of the financial services provider's stock worth $232,000 after buying an additional 359 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock worth $37,000 after buying an additional 377 shares during the period. Hedge funds and other institutional investors own 88.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Truist Financial upped their target price on Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Citigroup reaffirmed a "buy" rating and set a $59.00 price target (up from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their target price on Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $42.80.

Ally Financial Trading Up 0.1%

ALLY opened at $40.75 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The company's 50 day simple moving average is $38.87 and its two-hundred day simple moving average is $36.31. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $43.22. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 0.32 and a beta of 1.16.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates 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 period last year, the company posted $0.97 EPS. The business's revenue was up 3.0% on a year-over-year basis. Analysts expect that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors 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 yield of 2.9%. Ally Financial's dividend payout ratio is currently 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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