Russell Investments Group Ltd. Boosts Stock Holdings in Ally Financial Inc. $ALLY

Key Points

• Russell Investments Group Ltd. increased its holdings in Ally Financial by 30.8% during the first quarter, acquiring an additional 222,587 shares, bringing its total to approximately 945,224 shares valued at $34.5 million.
• Analysts have given Ally Financial varying ratings, with nine out of eighteen analysts issuing a "buy" rating, reflecting optimism about the stock's performance.
• Ally Financial recently announced a quarterly dividend of $0.30 per share, resulting in a 3.1% dividend yield, with a dividend payout ratio of 77.92%.

Russell Investments Group Ltd. lifted its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 30.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 945,224 shares of the financial services provider's stock after purchasing an additional 222,587 shares during the period. Russell Investments Group Ltd. owned about 0.31% of Ally Financial worth $34,503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cerity Partners LLC raised its stake in shares of Ally Financial by 11.7% during the fourth quarter. Cerity Partners LLC now owns 18,411 shares of the financial services provider's stock valued at $661,000 after acquiring an additional 1,923 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Ally Financial by 70.0% in the fourth quarter. Renaissance Technologies LLC now owns 127,300 shares of the financial services provider's stock valued at $4,584,000 after acquiring an additional 52,400 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Ally Financial in the fourth quarter worth $2,337,000. Sterling Capital Management LLC increased its position in shares of Ally Financial by 50.8% during the fourth quarter. Sterling Capital Management LLC now owns 14,659 shares of the financial services provider's stock worth $528,000 after purchasing an additional 4,940 shares in the last quarter. Finally, Bridgewater Associates LP boosted its position in shares of Ally Financial by 56.5% in the 4th quarter. Bridgewater Associates LP now owns 212,301 shares of the financial services provider's stock worth $7,645,000 after purchasing an additional 76,652 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

Ally Financial Stock Up 0.2%

NYSE ALLY traded up $0.0760 during trading on Tuesday, reaching $38.4760. 385,135 shares of the company's stock were exchanged, compared to its average volume of 3,916,369. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $43.86. The stock has a market cap of $11.84 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 0.30 and a beta of 1.16. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50 day moving average price of $38.53 and a two-hundred day moving average price of $36.24.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.99 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 net margin of 7.64% and a return on equity of 9.48%. The firm's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, equities research analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 1st. Ally Financial's dividend payout ratio is 77.92%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup reaffirmed a "buy" rating and set a $59.00 target price (up from $55.00) on shares of Ally Financial in a report on Wednesday, July 2nd. Truist Financial lifted their target price on shares of Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a research note on Monday, July 14th. Morgan Stanley restated an "overweight" rating and set a $47.00 price target (up previously from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their target price on Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ally Financial presently has an average rating of "Hold" and an average target price of $42.80.

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.