PNC Financial Services Group Inc. Has $3.02 Million Holdings in Ally Financial Inc. $ALLY

Key Points

• PNC Financial Services Group sharply increased its stake in Ally Financial during the fourth quarter, boosting holdings by 166.2% to 66,595 shares valued at about $3.02 million.
• Ally Financial recently reported better-than-expected quarterly results, with earnings of $1.11 per share versus $0.93 expected and revenue of $2.18 billion, up 36.4% year over year.
• The company also paid a quarterly dividend of $0.30 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $54.14.

PNC Financial Services Group Inc. increased its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 166.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,595 shares of the financial services provider's stock after purchasing an additional 41,574 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Ally Financial were worth $3,016,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Chung Wu Investment Group LLC boosted its holdings in Ally Financial by 224.1% in the third quarter. Chung Wu Investment Group LLC now owns 38,890 shares of the financial services provider's stock valued at $1,524,000 after acquiring an additional 26,890 shares during the last quarter. NewSquare Capital LLC boosted its holdings in Ally Financial by 21,520.9% in the third quarter. NewSquare Capital LLC now owns 27,891 shares of the financial services provider's stock valued at $1,093,000 after acquiring an additional 27,762 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Ally Financial in the third quarter valued at approximately $1,194,000. Prana Capital Management LP boosted its holdings in Ally Financial by 177.3% in the third quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider's stock valued at $7,007,000 after acquiring an additional 114,305 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Ally Financial by 7.5% in the third quarter. Principal Financial Group Inc. now owns 674,471 shares of the financial services provider's stock valued at $26,439,000 after acquiring an additional 47,184 shares during the last quarter. 88.76% of the stock is owned by institutional investors.

Ally Financial Stock Performance

Shares of NYSE:ALLY opened at $42.70 on Wednesday. Ally Financial Inc. has a 52 week low of $33.81 and a 52 week high of $47.27. The stock has a market capitalization of $13.09 billion, a P/E ratio of 10.41, a PEG ratio of 0.26 and a beta of 1.12. The firm has a fifty day simple moving average of $41.70 and a two-hundred day simple moving average of $41.96. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. Ally Financial's quarterly revenue was up 36.4% compared to the same quarter last year. On average, analysts expect that Ally Financial Inc. will post 5.3 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, May 1st. Ally Financial's dividend payout ratio is presently 29.27%.

Insider Buying and Selling at Ally Financial

In related news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction on Friday, May 15th. The stock was 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 represents a 5.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas R. Timmerman sold 39,675 shares of the business's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the transaction, the insider owned 477,627 shares of the company's stock, valued at $21,574,411.59. This trade represents a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ALLY shares. Evercore reissued an "outperform" rating and set a $54.00 target price on shares of Ally Financial in a research note on Tuesday, April 21st. Bank of America lifted their target price 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. Morgan Stanley lifted their price objective on Ally Financial from $53.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. Wall Street Zen lowered Ally Financial from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. cut their target price on Ally Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.14.

About Ally Financial

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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