Swedbank AB Lowers Stock 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 lessened its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 12.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,951 shares of the financial services provider's stock after selling 20,228 shares during the quarter. Swedbank AB's holdings in Ally Financial were worth $5,396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP bought a new stake in shares of Ally Financial in the 1st quarter worth $253,881,000. Millennium Management LLC grew 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 in the last quarter. AQR Capital Management LLC grew 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 in the last quarter. Amundi grew 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 in the last quarter. Finally, Eisler Capital Management Ltd. bought a new stake in shares of Ally Financial in the 1st quarter worth $22,651,000. Institutional investors own 88.76% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Citigroup increased 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. JPMorgan Chase & Co. lifted their price objective on shares of 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 shares of Ally Financial from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $37.00 to $45.00 in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $44.40.

Ally Financial Stock Performance

NYSE ALLY traded down $0.35 during trading on Friday, hitting $44.23. 1,981,848 shares of the company's stock traded hands, compared to its average volume of 3,765,129. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 0.34 and a beta of 1.14. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $44.83. 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 business has a 50 day moving average of $39.80 and a 200-day moving average of $36.82.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The company's revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. As a group, equities research analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 yield of 2.7%. Ally Financial's dividend payout ratio is 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.