Swedbank AB Has $5.40 Million Holdings in Ally Financial Inc. $ALLY

Key Points

• Swedbank AB reduced its stake in Ally Financial Inc. by 12% in Q1, bringing its holdings to approximately $5.4 million after selling 20,228 shares during the period.
• Ally Financial recently reported an earnings per share (EPS) of $0.99 for the last quarter, exceeding estimates and demonstrating a 3% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.30 per share, translating to an annual yield of 2.8% and a dividend payout ratio of 77.92%.

Swedbank AB decreased its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,951 shares of the financial services provider's stock after selling 20,228 shares during the period. Swedbank AB's holdings in Ally Financial were worth $5,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in Ally Financial in the 1st quarter valued at $253,881,000. Millennium Management LLC increased its stake in shares of Ally Financial by 234.7% in the 1st quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider's stock worth $136,838,000 after acquiring an additional 2,630,981 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Ally Financial by 173.2% in the 1st quarter. AQR Capital Management LLC now owns 1,377,717 shares of the financial services provider's stock worth $49,984,000 after acquiring an additional 873,380 shares during the last quarter. Amundi increased its stake in shares of Ally Financial by 53.9% in the 1st quarter. Amundi now owns 1,778,604 shares of the financial services provider's stock worth $64,866,000 after acquiring an additional 622,601 shares during the last quarter. Finally, Eisler Capital Management Ltd. acquired a new stake in shares of Ally Financial in the 1st quarter worth $22,651,000. Hedge funds and other institutional investors own 88.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALLY. Truist Financial raised their target price on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Wells Fargo & Company raised Ally Financial from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $37.00 to $45.00 in a research report on Tuesday, September 2nd. Morgan Stanley reissued an "overweight" rating and set a $47.00 price objective (up from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. Finally, Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $44.40.

Ally Financial Price Performance

Shares of NYSE:ALLY traded down $0.35 on Friday, hitting $44.23. The company had a trading volume of 5,339,956 shares, compared to its average volume of 2,620,256. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $44.83. The business has a 50 day moving average of $39.88 and a 200 day moving average of $36.88. The company has a market cap of $13.61 billion, a PE ratio of 28.72, a PEG ratio of 0.35 and a beta of 1.14.

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

Ally Financial Announces Dividend

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

About Ally Financial

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.