Private Management Group Inc. Sells 304,025 Shares of Ally Financial Inc. $ALLY

Key Points

• Private Management Group Inc. cut its stake in Ally Financial by 41.8% in the fourth quarter, selling 304,025 shares and leaving it with 423,901 shares worth about $19.2 million.
• Ally Financial reported strong quarterly earnings, posting $1.11 EPS versus the $0.93 consensus estimate and revenue of $2.18 billion, up 36.4% from a year earlier.
• Analysts remain broadly positive on the stock, with 14 Buy ratings and 2 Hold ratings; the consensus target price is $54.14, while the shares recently traded at $43.52.

Private Management Group Inc. reduced its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 41.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 423,901 shares of the financial services provider's stock after selling 304,025 shares during the quarter. Private Management Group Inc. owned 0.14% of Ally Financial worth $19,198,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ALLY. Royal Bank of Canada lifted its position in Ally Financial by 106.5% in the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider's stock valued at $9,158,000 after acquiring an additional 129,497 shares in the last quarter. NewEdge Advisors LLC lifted its position in Ally Financial by 22.8% in the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 415 shares in the last quarter. Empowered Funds LLC lifted its position in Ally Financial by 11.1% in the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider's stock valued at $470,000 after acquiring an additional 1,292 shares in the last quarter. Focus Partners Wealth bought a new stake in Ally Financial in the 1st quarter valued at $259,000. Finally, EverSource Wealth Advisors LLC lifted its position in Ally Financial by 374.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 1,166 shares in the last quarter. 88.76% of the stock is owned by institutional investors.

Insider Transactions at Ally Financial

In related news, insider Douglas R. Timmerman sold 39,675 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $21,574,411.59. This represents a 7.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie N. Richard sold 5,000 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. 0.46% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of Ally Financial from a "buy" rating to a "hold" rating in a research report on Monday. Bank of America boosted their price target on shares of Ally Financial from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. Morgan Stanley boosted their price target on shares of Ally Financial from $53.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. Truist Financial set a $54.00 price target on shares of Ally Financial in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of 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 research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Ally Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.14.

Ally Financial Stock Up 3.9%

Ally Financial stock opened at $43.52 on Friday. The firm has a market capitalization of $13.34 billion, a PE ratio of 10.61, a P/E/G ratio of 0.25 and a beta of 1.10. The company's 50-day moving average is $42.72 and its 200-day moving average is $42.28. Ally Financial Inc. has a fifty-two week low of $35.90 and a fifty-two week high of $47.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.18. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business earned $0.58 EPS. Ally Financial's revenue for the quarter was up 36.4% compared to the same quarter last year. Sell-side analysts anticipate that Ally Financial Inc. will post 5.28 earnings per share for the current year.

Ally Financial Dividend Announcement

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

Ally Financial Profile

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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