Wedge Capital Management L L P NC Sells 76,375 Shares of Ally Financial Inc. (NYSE:ALLY)

Wedge Capital Management L L P NC cut its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,212,564 shares of the financial services provider's stock after selling 76,375 shares during the period. Ally Financial makes up 0.9% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 27th biggest holding. Wedge Capital Management L L P NC owned 0.39% of Ally Financial worth $44,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALLY. abrdn plc lifted its stake in shares of Ally Financial by 0.5% in the fourth quarter. abrdn plc now owns 269,964 shares of the financial services provider's stock worth $9,748,000 after buying an additional 1,454 shares during the last quarter. Vest Financial LLC boosted its holdings in Ally Financial by 60.9% during the fourth quarter. Vest Financial LLC now owns 69,914 shares of the financial services provider's stock valued at $2,518,000 after acquiring an additional 26,465 shares during the period. Kingsview Wealth Management LLC grew its position in shares of Ally Financial by 458.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 57,866 shares of the financial services provider's stock valued at $2,084,000 after purchasing an additional 47,495 shares during the last quarter. Entropy Technologies LP increased its stake in shares of Ally Financial by 14.4% in the fourth quarter. Entropy Technologies LP now owns 33,446 shares of the financial services provider's stock worth $1,204,000 after purchasing an additional 4,221 shares during the period. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Ally Financial during the 4th quarter worth about $2,262,000. Institutional investors and hedge funds own 88.76% of the company's stock.

Insider Activity

In other Ally Financial news, CFO Russell E. Hutchinson purchased 8,200 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was bought at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the transaction, the chief financial officer now directly owns 236,421 shares in the company, valued at $7,284,131.01. This represents a 3.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephanie N. Richard sold 8,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total transaction of $257,120.00. Following the completion of the transaction, the insider now owns 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. 0.67% of the stock is currently owned by insiders.

Ally Financial Price Performance

Shares of NYSE ALLY traded up $1.12 during midday trading on Friday, reaching $36.32. 3,036,403 shares of the company traded hands, compared to its average volume of 3,744,460. The firm has a market cap of $11.16 billion, a PE ratio of 13.97, a PEG ratio of 0.32 and a beta of 1.14. The stock's 50-day simple moving average is $33.63 and its 200-day simple moving average is $35.84. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $45.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93.

Ally Financial (NYSE:ALLY - Get Free Report) last released 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 business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $2.04 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. During the same period in the prior year, the company earned $0.45 EPS. As a group, equities analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.30%. Ally Financial's payout ratio is currently 88.24%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ALLY shares. Bank of America lowered their target price on Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. reduced their price objective on Ally Financial from $43.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada restated an "outperform" rating and set a $40.00 price objective on shares of Ally Financial in a report on Monday, April 21st. Truist Financial decreased their target price on Ally Financial from $45.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group upped their price target on Ally Financial from $45.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.69.

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.