34,846 Shares in Ally Financial Inc. (NYSE:ALLY) Bought by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management has invested $1.27 million in Ally Financial Inc. by purchasing 34,846 shares during the first quarter, indicating growing interest in the financial services provider.
• Multiple large investors, including Norges Bank and Jacobs Levy Equity Management Inc., have significantly increased their holdings in Ally Financial, demonstrating strong institutional support for the stock.
• Ally Financial recently announced a quarterly dividend of $0.30 per share, providing an annualized yield of 3.11%, reflecting the company's commitment to returning value to shareholders.

Neo Ivy Capital Management purchased a new position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 34,846 shares of the financial services provider's stock, valued at approximately $1,271,000.

Other large investors also recently bought and sold shares of the company. Copia Wealth Management bought a new stake in shares of Ally Financial during the first quarter valued at approximately $27,000. Private Trust Co. NA increased its holdings in Ally Financial by 125.7% during the 1st quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock worth $33,000 after purchasing an additional 509 shares during the period. Bessemer Group Inc. raised its position in Ally Financial by 59.6% during the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 377 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Ally Financial during the 4th quarter valued at $78,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Ally Financial by 22.3% in the 1st quarter. Fifth Third Bancorp now owns 2,519 shares of the financial services provider's stock worth $92,000 after buying an additional 459 shares during the period. Hedge funds and other institutional investors own 88.76% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ALLY shares. Wall Street Zen upgraded Ally Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 23rd. Truist Financial raised their target price 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 reaffirmed an "overweight" rating and issued a $47.00 price target (up previously from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Bank of America reduced their price objective on shares of Ally Financial from $42.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $42.80.

Ally Financial Stock Down 0.1%

Shares of Ally Financial stock traded down $0.03 during trading on Wednesday, reaching $38.48. The company's stock had a trading volume of 383,016 shares, compared to its average volume of 4,037,342. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $45.46. The company has a 50-day simple moving average of $37.71 and a two-hundred day simple moving average of $36.28. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The company has a market cap of $11.82 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 0.30 and a beta of 1.15.

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

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Friday, August 1st. Ally Financial's dividend payout ratio (DPR) 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.