Northern Trust Corp Cuts Stake in Ally Financial Inc. $ALLY

Key Points

• Northern Trust Corp has reduced its stake in Ally Financial Inc. by 7.5%, now owning approximately 3.64 million shares worth about $132.91 million.
• Ally Financial reported earnings of $0.99 per share, exceeding expectations, with a net margin of 7.64% and revenue of $2.08 billion for the quarter.
• The company recently announced a quarterly dividend of $0.30 per share, reflecting a 3.0% dividend yield and a payout ratio of nearly 78%.

Northern Trust Corp lessened its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 7.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,644,405 shares of the financial services provider's stock after selling 297,054 shares during the period. Northern Trust Corp owned 1.19% of Ally Financial worth $132,911,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ALLY. Copia Wealth Management acquired a new position in shares of Ally Financial during the first quarter valued at about $27,000. Private Trust Co. NA grew its stake in shares of Ally Financial by 125.7% in the 1st quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock valued at $33,000 after buying an additional 509 shares during the period. Bessemer Group Inc. increased its position in Ally Financial by 59.6% in the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after buying an additional 377 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Ally Financial during the 1st quarter worth approximately $74,000. Finally, Fifth Third Bancorp raised its stake in Ally Financial by 22.3% during 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. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALLY. BTIG Research raised Ally Financial from a "sell" rating to a "neutral" rating in a research note on Monday, July 14th. Truist Financial increased their target price on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Citigroup restated a "buy" rating and set a $59.00 price objective (up previously from $55.00) on shares of Ally Financial in a report on Wednesday, July 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. Nine 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. According to data from MarketBeat, Ally Financial currently has an average rating of "Hold" and an average price target of $42.80.

Ally Financial Stock Down 0.1%

Shares of ALLY stock traded down $0.05 on Thursday, hitting $41.02. The stock had a trading volume of 413,131 shares, compared to its average volume of 3,853,692. 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 business has a 50 day moving average of $38.96 and a 200 day moving average of $36.34. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $43.22. The stock has a market cap of $12.62 billion, a price-to-earnings ratio of 26.62, 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 quarterly earnings results 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. The business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. As a group, analysts expect that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently announced 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 of this dividend was Friday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. Ally Financial's dividend payout ratio is currently 77.92%.

Ally Financial 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.