Donald Smith & CO. Inc. purchased a new stake in Ally Financial Inc. (NYSE:ALLY – Free Report) during the 2nd quarter, Holdings Channel reports. The firm purchased 3,754,280 shares of the financial services provider’s stock, valued at approximately $172,509,000. Ally Financial accounts for about 3.1% of Donald Smith & CO. Inc.’s holdings, making the stock its 12th largest position.
Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ally Financial during the fourth quarter worth about $29,000. Trust Co. of Vermont purchased a new stake in shares of Ally Financial during the 2nd quarter valued at $36,000. Fideuram Asset Management Ireland dac acquired a new stake in Ally Financial during the fourth quarter worth about $35,000. Safe Harbor Fiduciary LLC acquired a new stake in Ally Financial during the 4th quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Ally Financial in the fourth quarter worth $38,000. Institutional investors and hedge funds own 88.76% of the company’s stock.
Ally Financial Stock Performance
Shares of NYSE ALLY opened at $42.96 on Friday. 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 simple moving average of $44.82 and a 200-day simple moving average of $42.63. The company has a market cap of $13.07 billion, a PE ratio of 10.13, a P/E/G ratio of 0.26 and a beta of 1.10.
Ally Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, July 31st. Ally Financial’s dividend payout ratio (DPR) is presently 28.30%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on ALLY shares. Bank of America increased their target price on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Truist Financial cut their price target on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Citigroup reduced their price objective on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Royal Bank Of Canada upped their price objective on Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.64.
Check Out Our Latest Research Report on ALLY
Insiders Place Their Bets
In related news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction dated 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 of the company’s stock, valued at $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.
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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