State of Wyoming Purchases Shares of 69,522 Ally Financial Inc. $ALLY

Key Points

• State of Wyoming acquired 69,522 Ally Financial shares worth approximately $3.2 million in the second quarter, making Ally its 22nd-largest portfolio holding. Institutional investors collectively own 88.76% of the company.
• Ally reported quarterly revenue of $2.28 billion, up 9.8% year over year, but earnings of $1.21 per share narrowly missed analysts’ $1.22 estimate. The company also maintains a quarterly dividend of $0.30 per share, yielding about 2.7% annually.
• Ally shares opened at $44.89, while analysts retain a consensus “Moderate Buy” rating and an average price target of $53.64; ratings include 14 Buys and two Holds.

State of Wyoming acquired a new stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 69,522 shares of the financial services provider's stock, valued at approximately $3,195,000. Ally Financial makes up about 0.3% of State of Wyoming's investment portfolio, making the stock its 22nd largest position.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new position in Ally Financial in the fourth quarter worth approximately $3,926,000. Evergreen Capital Management LLC lifted its position in shares of Ally Financial by 781.9% during the 4th quarter. Evergreen Capital Management LLC now owns 45,939 shares of the financial services provider's stock valued at $2,081,000 after acquiring an additional 40,730 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Ally Financial by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock valued at $243,795,000 after acquiring an additional 241,000 shares during the last quarter. Qsemble Capital Management LP boosted its stake in shares of Ally Financial by 136.0% during the 4th quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider's stock worth $7,235,000 after acquiring an additional 92,043 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Ally Financial by 7.1% during the 1st quarter. Bank of America Corp DE now owns 2,889,620 shares of the financial services provider's stock worth $113,360,000 after acquiring an additional 190,514 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Trading Up 0.7%

Ally Financial stock opened at $44.89 on Friday. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 0.28 and a beta of 1.10. The company has a 50 day moving average price of $44.82 and a 200 day moving average price of $42.61.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. Ally Financial's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.99 earnings per share. Research analysts forecast that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.30 per share. The ex-dividend date was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. Ally Financial's payout ratio is currently 28.30%.

Insider Buying and Selling at Ally Financial

In related news, insider Stephanie N. Richard sold 5,000 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the transaction, the insider directly owned 88,927 shares of the company's stock, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ALLY shares. Wells Fargo & Company lifted their target price on Ally Financial from $52.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Citigroup reduced their target price on Ally Financial from $70.00 to $58.00 and set a "buy" rating for the company in a report on Tuesday, June 23rd. Evercore reiterated an "outperform" rating and issued a $54.00 price target on shares of Ally Financial in a research report on Tuesday, April 21st. Wall Street Zen cut Ally Financial from a "buy" rating to a "hold" rating in a research note on Monday, June 8th. Finally, The Goldman Sachs Group boosted their price objective on Ally Financial from $50.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, April 20th. 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.64.

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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