Teacher Retirement System of Texas Invests $1.46 Million in Ally Financial Inc. (NYSE:ALLY)

Teacher Retirement System of Texas acquired a new position in Ally Financial Inc. (NYSE:ALLY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,093 shares of the financial services provider's stock, valued at approximately $1,462,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Ally Financial by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 28,252,149 shares of the financial services provider's stock worth $1,017,360,000 after acquiring an additional 111,231 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ally Financial by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 4,895,467 shares of the financial services provider's stock worth $175,990,000 after acquiring an additional 184,278 shares during the last quarter. First Manhattan CO. LLC. grew its stake in shares of Ally Financial by 4.8% in the fourth quarter. First Manhattan CO. LLC. now owns 4,226,639 shares of the financial services provider's stock worth $153,752,000 after acquiring an additional 192,295 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Ally Financial by 84.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider's stock worth $151,320,000 after acquiring an additional 1,918,965 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Ally Financial by 28.0% in the fourth quarter. Northern Trust Corp now owns 3,941,459 shares of the financial services provider's stock worth $141,932,000 after acquiring an additional 863,052 shares during the last quarter. Institutional investors own 88.76% of the company's stock.

Ally Financial Trading Down 0.2%

Shares of Ally Financial stock traded down $0.10 on Friday, reaching $40.42. The company had a trading volume of 2,608,347 shares, compared to its average volume of 3,787,111. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 29.72, a P/E/G ratio of 0.38 and a beta of 1.15. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.90 and a quick ratio of 0.90. The firm's 50-day moving average price is $36.67 and its two-hundred day moving average price is $35.98. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $45.46.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.15. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $2.04 billion. Ally Financial had a return on equity of 9.53% and a net margin of 6.96%. During the same quarter in the previous year, the business earned $0.45 EPS. As a group, research analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, May 1st. Ally Financial's payout ratio is 88.24%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALLY shares. BTIG Research cut Ally Financial from a "neutral" rating to a "sell" rating and set a $30.00 price objective on the stock. in a research report on Tuesday, March 25th. Bank of America dropped their target price on Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Morgan Stanley reissued an "overweight" rating and issued a $47.00 target price (up from $39.00) on shares of Ally Financial in a research report on Thursday. Truist Financial raised their target price on Ally Financial from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.67.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, CFO Russell E. Hutchinson bought 8,200 shares of Ally Financial stock in a transaction that occurred on Tuesday, April 22nd. The shares were bought at an average cost of $30.81 per share, with a total value of $252,642.00. Following the transaction, the chief financial officer directly owned 236,421 shares of the company's stock, valued at approximately $7,284,131.01. This represents a 3.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie N. Richard sold 8,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total value of $257,120.00. Following the transaction, the insider directly owned 90,387 shares in the company, valued at $2,905,038.18. This represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.67% of the company's stock.

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.