46,705 Shares in Ally Financial Inc. $ALLY Bought by Global Retirement Partners LLC
by Kim Johansen · The Markets DailyGlobal Retirement Partners LLC bought a new stake in Ally Financial Inc. (NYSE:ALLY – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 46,705 shares of the financial services provider’s stock, valued at approximately $2,146,000.
Several other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Ally Financial during the 4th quarter worth about $29,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Ally Financial during the 4th quarter worth approximately $35,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Ally Financial during the 4th quarter worth $37,000. Harvest Fund Management Co. Ltd bought a new position in shares of Ally Financial in the fourth quarter worth about $38,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Ally Financial by 805.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 896 shares of the financial services provider’s stock worth $41,000 after buying an additional 797 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the transaction, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.
Analysts Set New Price Targets
ALLY has been the topic of several analyst reports. Evercore reissued an “outperform” rating and issued a $54.00 price objective on shares of Ally Financial in a research note on Tuesday, April 21st. Bank of America upped their price target on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Truist Financial dropped their price objective on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Citigroup dropped their target price on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.64.
Check Out Our Latest Research Report on ALLY
Ally Financial Price Performance
ALLY opened at $44.89 on Monday. The stock has a market capitalization of $13.66 billion, a P/E ratio of 10.59, a PEG ratio of 0.28 and a beta of 1.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month high of $47.29. The stock has a 50-day moving average price of $44.82 and a 200-day moving average price of $42.61.
Ally Financial (NYSE:ALLY – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. Ally Financial’s revenue was up 9.8% compared to the same quarter last year. Equities analysts predict that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.
Ally Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, July 31st. Ally Financial’s dividend payout ratio is 28.30%.
Ally Financial Profile
Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.
In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.
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