OLD National Bancorp IN cut its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 24.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 420,204 shares of the financial services provider's stock after selling 135,458 shares during the quarter. OLD National Bancorp IN owned 0.14% of Ally Financial worth $16,485,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in ALLY. Wellington Management Group LLP raised its stake in Ally Financial by 19.5% during the 4th 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ally Financial by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,708,942 shares of the financial services provider's stock worth $394,432,000 after buying an additional 295,048 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ally Financial by 7.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,071,504 shares of the financial services provider's stock worth $274,978,000 after buying an additional 444,756 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ally Financial by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock worth $243,795,000 after acquiring an additional 241,000 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Ally Financial by 0.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,867,023 shares of the financial services provider's stock worth $175,137,000 after acquiring an additional 20,198 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on ALLY shares. Truist Financial set a $54.00 target price on Ally Financial in a report on Tuesday, April 21st. JPMorgan Chase & Co. cut their price target on Ally Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Weiss Ratings raised shares of Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. Bank of America increased their price objective on shares of Ally Financial from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, April 10th. Finally, Evercore reissued an "outperform" rating and issued a $54.00 price objective on shares of Ally Financial in a report on Tuesday, April 21st. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.29.
Check Out Our Latest Report on Ally Financial
Ally Financial Price Performance
NYSE ALLY opened at $46.24 on Friday. The business's fifty day moving average is $43.63 and its 200 day moving average is $42.57. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.27. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $14.17 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10.
Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the prior year, the business posted $0.58 earnings per share. The business's quarterly revenue was up 36.4% on a year-over-year basis. Sell-side analysts predict that Ally Financial Inc. will post 5.26 earnings per share for the current year.
Ally Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, May 1st. Ally Financial's dividend payout ratio is currently 29.27%.
Insider Activity at Ally Financial
In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the sale, the insider owned 93,927 shares in the company, valued at approximately $3,958,083.78. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the transaction, the insider directly owned 477,627 shares in the company, valued at $21,574,411.59. This represents a 7.67% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.46% of the company's stock.
About Ally Financial
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ALLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ally Financial Inc. (NYSE:ALLY - Free Report).
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