Kingsview Wealth Management LLC Grows Holdings in Ally Financial Inc. (NYSE:ALLY)

Kingsview Wealth Management LLC grew its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 458.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,866 shares of the financial services provider's stock after buying an additional 47,495 shares during the period. Kingsview Wealth Management LLC's holdings in Ally Financial were worth $2,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Janney Montgomery Scott LLC boosted its stake in Ally Financial by 68.8% in the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider's stock valued at $2,455,000 after acquiring an additional 28,114 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Ally Financial in the 4th quarter valued at about $1,112,000. CWA Asset Management Group LLC purchased a new position in Ally Financial during the 3rd quarter worth approximately $1,338,000. Wealth Enhancement Advisory Services LLC increased its position in Ally Financial by 58.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider's stock worth $1,796,000 after buying an additional 18,671 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Ally Financial in the third quarter valued at approximately $21,571,000. 88.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALLY has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on shares of Ally Financial from $41.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Jefferies Financial Group upped their target price on shares of Ally Financial from $35.00 to $40.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. 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 note on Tuesday, January 28th. Wolfe Research downgraded Ally Financial from an "outperform" rating to a "peer perform" rating in a research note on Thursday, December 5th. Finally, Barclays lifted their target price on Ally Financial from $36.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $43.76.

Ally Financial Price Performance

ALLY stock traded up $0.23 on Tuesday, reaching $38.03. The company had a trading volume of 2,067,699 shares, compared to its average volume of 3,799,244. Ally Financial Inc. has a 1 year low of $31.95 and a 1 year high of $45.46. The company has a market cap of $11.59 billion, a P/E ratio of 14.63, a PEG ratio of 0.43 and a beta of 1.45. The company's fifty day moving average is $37.19 and its 200 day moving average is $37.57. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.57 by $0.21. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The firm had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the previous year, the company earned $0.45 EPS. Ally Financial's revenue for the quarter was up 3.6% on a year-over-year basis. On average, research analysts forecast that Ally Financial Inc. will post 3.69 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.16%. Ally Financial's dividend payout ratio (DPR) is presently 46.15%.

Insider Activity

In other Ally Financial news, CEO Michael George Rhodes bought 25,634 shares of Ally Financial stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average price of $39.09 per share, for a total transaction of $1,002,033.06. Following the acquisition, the chief executive officer now owns 25,634 shares of the company's stock, valued at $1,002,033.06. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Russell E. Hutchinson acquired 19,100 shares of Ally Financial stock in a transaction on Friday, January 24th. The shares were bought at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the purchase, the chief financial officer now owns 202,845 shares of the company's stock, valued at $8,002,235.25. This represents a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company's stock.

About Ally Financial

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.