Handelsbanken Fonder AB Has $2.92 Million Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Handelsbanken Fonder AB grew its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 37.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,100 shares of the financial services provider's stock after purchasing an additional 22,200 shares during the period. Handelsbanken Fonder AB's holdings in Ally Financial were worth $2,920,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in Ally Financial by 68.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider's stock valued at $2,455,000 after purchasing an additional 28,114 shares during the period. Oak Thistle LLC acquired a new position in Ally Financial during the fourth quarter valued at $1,112,000. CWA Asset Management Group LLC acquired a new position in Ally Financial during the third quarter valued at $1,338,000. Wealth Enhancement Advisory Services LLC lifted its stake in Ally Financial by 58.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider's stock worth $1,796,000 after acquiring an additional 18,671 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Ally Financial during the 3rd quarter worth about $21,571,000. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Stock Performance

NYSE:ALLY traded up $0.41 during midday trading on Friday, reaching $37.12. The stock had a trading volume of 3,036,923 shares, compared to its average volume of 3,515,427. The stock has a market capitalization of $11.40 billion, a P/E ratio of 14.28, a PEG ratio of 0.32 and a beta of 1.45. Ally Financial Inc. has a 1-year low of $31.95 and a 1-year high of $45.46. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. The firm's fifty day simple moving average is $37.24 and its 200-day simple moving average is $37.26.

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Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.21. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the business posted $0.45 earnings per share. The firm's revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.23%. Ally Financial's dividend payout ratio (DPR) is presently 46.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Ally Financial from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Truist Financial increased their target price on shares of Ally Financial from $42.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Wells Fargo & Company boosted their price target on shares of Ally Financial from $32.00 to $34.00 and gave the company an "underweight" rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods increased their price objective on Ally Financial from $44.00 to $56.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Finally, Barclays lifted their price objective on Ally Financial from $36.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $43.76.

Insider Activity

In other news, CFO Russell E. Hutchinson purchased 19,100 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average cost of $39.45 per share, for a total transaction of $753,495.00. Following the completion of the purchase, the chief financial officer now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rhodes purchased 25,634 shares of the business'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 in the company, valued at approximately $1,002,033.06. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

Ally Financial Profile

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.