Geode Capital Management LLC raised its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,895,467 shares of the financial services provider's stock after acquiring an additional 184,278 shares during the period. Geode Capital Management LLC owned approximately 1.61% of Ally Financial worth $175,990,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of ALLY. Principal Securities Inc. increased its position in shares of Ally Financial by 89.4% in the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider's stock worth $38,000 after purchasing an additional 496 shares during the period. Kestra Investment Management LLC bought a new position in Ally Financial in the 4th quarter valued at about $43,000. UMB Bank n.a. raised its position in shares of Ally Financial by 218.8% in the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider's stock valued at $56,000 after buying an additional 1,061 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Ally Financial by 38.5% in the 4th quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider's stock valued at $77,000 after buying an additional 595 shares in the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of Ally Financial during the 4th quarter worth approximately $85,000. 88.76% of the stock is currently owned by institutional investors.
Ally Financial Stock Down 0.7 %
Shares of NYSE ALLY traded down $0.23 during trading on Friday, hitting $31.76. 6,337,031 shares of the company traded hands, compared to its average volume of 3,524,171. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93. The business's fifty day moving average is $35.75 and its 200 day moving average is $36.29. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.32 and a beta of 1.12. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $45.46.
Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.21. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.02 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The company's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. Equities research analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.
Ally Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.78%. The ex-dividend date was Friday, January 31st. Ally Financial's payout ratio is currently 46.15%.
Analyst Upgrades and Downgrades
Several brokerages have commented on ALLY. Compass Point upgraded shares of Ally Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $37.00 to $41.00 in a research report on Monday. Jefferies Financial Group lifted their price target on Ally Financial from $35.00 to $40.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. Truist Financial dropped their price objective on Ally Financial from $47.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Wells Fargo & Company lifted their target price on Ally Financial from $32.00 to $34.00 and gave the company an "underweight" rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley increased their target price on shares of Ally Financial from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Ally Financial currently has an average rating of "Hold" and a consensus target price of $42.41.
Check Out Our Latest Stock Report on ALLY
Insider Buying and Selling at Ally Financial
In related news, CEO Michael George Rhodes acquired 25,634 shares of the firm's stock in a transaction on Monday, January 27th. The stock was purchased at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the acquisition, the chief executive officer now owns 25,634 shares of the company's stock, valued at approximately $1,002,033.06. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Russell E. Hutchinson acquired 19,100 shares of the stock in a transaction dated Friday, January 24th. The stock was bought at an average cost of $39.45 per share, with a total value of $753,495.00. Following the completion of the purchase, the chief financial officer now owns 202,845 shares of the company's stock, valued at approximately $8,002,235.25. The trade was a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by company insiders.
About Ally Financial
(
Free Report)
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.
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