Focus Partners Advisor Solutions LLC acquired a new stake in Ally Financial Inc. (NYSE:ALLY – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 14,101 shares of the financial services provider’s stock, valued at approximately $648,000.
Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Ally Financial in the fourth quarter valued at $157,610,000. Wellington Management Group LLP grew its holdings in Ally Financial by 19.5% during the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock valued at $646,347,000 after purchasing an additional 2,332,610 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Ally Financial by 8,255.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock worth $48,231,000 after buying an additional 1,215,659 shares during the period. Bank of America Corp DE increased its stake 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 buying an additional 1,056,060 shares during the period. Finally, Soros Fund Management LLC lifted its holdings in Ally Financial by 128.8% in the 4th quarter. Soros Fund Management LLC now owns 1,687,493 shares of the financial services provider’s stock worth $76,427,000 after buying an additional 949,793 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.
Ally Financial Stock Down 2.9%
Shares of NYSE:ALLY opened at $43.62 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a fifty day simple moving average of $44.85 and a 200 day simple moving average of $42.61. The firm has a market cap of $13.27 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month high of $47.29.
Ally Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. Ally Financial’s payout ratio is presently 28.30%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on ALLY shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $58.00 price objective on shares of Ally Financial in a research report on Wednesday, July 22nd. Evercore reaffirmed an “outperform” rating and set a $54.00 target price on shares of Ally Financial in a research report on Tuesday, April 21st. Royal Bank Of Canada boosted their price target on Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Bank of America increased their price target on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Truist Financial reduced their price target on Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.64.
Read Our Latest Research Report on ALLY
Insider Activity
In other news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the sale, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.
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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