Strs Ohio Invests $1.38 Million in Ally Financial Inc. $ALLY

Key Points

• Strs Ohio invested approximately $1.38 million in Ally Financial Inc. by purchasing 37,749 shares during the first quarter, marking a notable entry for the fund into the financial services sector.
• Ally Financial's recent quarterly earnings showed an EPS of $0.99, surpassing analysts' expectations, with a 3% increase in revenue compared to the previous year.
• The company has declared a quarterly dividend of $0.30 per share, translating to an annualized yield of 2.7%, with a current payout ratio of 77.92%.

Strs Ohio bought a new stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 37,749 shares of the financial services provider's stock, valued at approximately $1,377,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC grew its position in shares of Ally Financial by 1.1% during the 4th quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider's stock worth $946,000 after buying an additional 280 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Ally Financial by 0.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 40,363 shares of the financial services provider's stock worth $1,472,000 after buying an additional 300 shares during the period. Signet Financial Management LLC grew its position in shares of Ally Financial by 5.6% during the 1st quarter. Signet Financial Management LLC now owns 6,724 shares of the financial services provider's stock worth $245,000 after buying an additional 357 shares during the period. Bessemer Group Inc. grew its position in Ally Financial by 59.6% in the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 377 shares during the period. Finally, NewEdge Advisors LLC grew 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 purchasing an additional 415 shares during the period. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Price Performance

ALLY stock traded down $0.35 during mid-day trading on Friday, reaching $44.23. 5,339,956 shares of the company traded hands, compared to its average volume of 2,620,256. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $13.61 billion, a P/E ratio of 28.72, a P/E/G ratio of 0.35 and a beta of 1.14. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $44.83. The company has a fifty day moving average price of $39.88 and a 200-day moving average price of $36.88.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.21. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 EPS. As a group, analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. Ally Financial's payout ratio is presently 77.92%.

Wall Street Analyst Weigh In

ALLY has been the subject of several research reports. BTIG Research raised shares of Ally Financial from a "sell" rating to a "neutral" rating in a research report on Monday, July 14th. Citigroup lifted their price target on shares of Ally Financial from $59.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Truist Financial lifted their price target on shares of Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley reissued an "overweight" rating and issued a $47.00 price target (up previously from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Ally Financial has a consensus rating of "Moderate Buy" and an average target price of $44.40.

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.