Versor Investments LP increased its holdings in shares of Ally Financial Inc. (NYSE:ALLY – Free Report) by 165.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,559 shares of the financial services provider’s stock after acquiring an additional 21,559 shares during the quarter. Versor Investments LP’s holdings in Ally Financial were worth $1,565,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Ally Financial by 19.6% during the 3rd quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock worth $467,996,000 after purchasing an additional 1,958,201 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Ally Financial by 4.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,626,748 shares of the financial services provider’s stock worth $220,569,000 after purchasing an additional 226,188 shares in the last quarter. Bank of America Corp DE increased its holdings in Ally Financial by 38.9% during the 2nd quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock worth $146,888,000 after purchasing an additional 1,056,060 shares in the last quarter. American Century Companies Inc. increased its holdings in Ally Financial by 30.9% during the 3rd quarter. American Century Companies Inc. now owns 2,251,925 shares of the financial services provider’s stock worth $88,276,000 after purchasing an additional 531,269 shares in the last quarter. Finally, Employees Retirement System of Texas increased its holdings in Ally Financial by 18.3% during the 3rd quarter. Employees Retirement System of Texas now owns 1,696,646 shares of the financial services provider’s stock worth $66,509,000 after purchasing an additional 262,563 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.
Insider Buying and Selling
In related news, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the completion of the transaction, the insider owned 477,627 shares in the company, valued at approximately $21,574,411.59. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.
Ally Financial Price Performance
Ally Financial (NYSE:ALLY – Get Free Report) last released its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. Ally Financial’s quarterly revenue was up 36.4% on a year-over-year basis. As a group, sell-side analysts forecast that Ally Financial Inc. will post 5.3 EPS for the current fiscal year.
Ally Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, May 1st. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is presently 29.27%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on ALLY shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Ally Financial in a report on Monday, January 12th. Wall Street Zen upgraded Ally Financial from a “hold” rating to a “buy” rating in a report on Monday. The Goldman Sachs Group increased their target price on Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Truist Financial set a $54.00 target price on Ally Financial in a research report on Tuesday, April 21st. Finally, UBS Group set a $48.00 target price on Ally Financial in a research report on Monday, January 12th. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and an average target price of $54.14.
Read Our Latest Research Report on ALLY
About Ally Financial
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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