Waterfront Wealth Inc. cut its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 25.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,175 shares of the financial services provider's stock after selling 12,749 shares during the quarter. Waterfront Wealth Inc.'s holdings in Ally Financial were worth $1,392,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Ally Financial by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 28,252,149 shares of the financial services provider's stock worth $1,017,360,000 after purchasing an additional 111,231 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ally Financial by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 4,895,467 shares of the financial services provider's stock worth $175,990,000 after purchasing an additional 184,278 shares in the last quarter. First Manhattan CO. LLC. lifted its holdings in Ally Financial by 4.8% in the 4th quarter. First Manhattan CO. LLC. now owns 4,226,639 shares of the financial services provider's stock worth $153,752,000 after purchasing an additional 192,295 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Ally Financial by 84.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider's stock worth $151,320,000 after purchasing an additional 1,918,965 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Ally Financial by 28.0% in the 4th quarter. Northern Trust Corp now owns 3,941,459 shares of the financial services provider's stock worth $141,932,000 after purchasing an additional 863,052 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on ALLY. Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a report on Friday, May 23rd. Compass Point raised Ally Financial from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $37.00 to $41.00 in a report on Monday, April 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $40.00 price objective on shares of Ally Financial in a report on Monday, April 21st. The Goldman Sachs Group upped their price objective on Ally Financial from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Finally, Truist Financial upped their price objective on Ally Financial from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Ally Financial has an average rating of "Hold" and a consensus target price of $41.88.
Get Our Latest Stock Analysis on Ally Financial
Insider Transactions at Ally Financial
In related news, 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 completion of the sale, the insider now directly owns 90,387 shares of the company's stock, valued at $2,905,038.18. This represents a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Russell E. Hutchinson acquired 8,200 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was acquired at an average cost of $30.81 per share, with a total value of $252,642.00. Following the completion of the purchase, the chief financial officer now owns 236,421 shares of the company's stock, valued at $7,284,131.01. This trade represents a 3.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company's stock.
Ally Financial Trading Up 0.4%
ALLY stock opened at $38.93 on Friday. The firm's fifty day simple moving average is $35.06 and its two-hundred day simple moving average is $35.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $11.96 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 0.36 and a beta of 1.14. Ally Financial Inc. has a twelve month low of $29.52 and a twelve month high of $45.46.
Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.15. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $2.04 billion. Ally Financial had a net margin of 6.96% and a return on equity of 9.53%. During the same period in the prior year, the business posted $0.45 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Thursday, May 1st. Ally Financial's payout ratio is presently 88.24%.
Ally Financial Company Profile
(
Free Report)
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.
Further Reading
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