Norges Bank Invests $75.48 Million in Ally Financial Inc. (NYSE:ALLY)

Norges Bank acquired a new stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,096,181 shares of the financial services provider's stock, valued at approximately $75,483,000. Norges Bank owned 0.69% of Ally Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of ALLY. Caisse Des Depots ET Consignations purchased a new stake in Ally Financial in the fourth quarter worth $3,629,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Ally Financial by 17.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 213,724 shares of the financial services provider's stock worth $7,662,000 after acquiring an additional 31,274 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Ally Financial by 0.6% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 136,618 shares of the financial services provider's stock valued at $4,920,000 after acquiring an additional 866 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Ally Financial by 2.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,332 shares of the financial services provider's stock worth $552,000 after acquiring an additional 320 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Ally Financial in the fourth quarter worth about $463,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Ally Financial Stock Performance

ALLY stock traded down $0.79 during trading on Monday, reaching $31.34. The stock had a trading volume of 9,190,056 shares, compared to its average volume of 3,481,079. Ally Financial Inc. has a 52 week low of $30.06 and a 52 week high of $45.46. The firm has a market cap of $9.62 billion, a PE ratio of 12.05, a PEG ratio of 0.32 and a beta of 1.12. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The stock's 50 day moving average is $36.57 and its two-hundred day moving average is $36.41.

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

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.30 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.83%. Ally Financial's dividend payout ratio is currently 46.15%.

Insider Buying and Selling at Ally Financial

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

Analyst Ratings Changes

A number of brokerages have recently commented on ALLY. JPMorgan Chase & Co. boosted their price target on Ally Financial from $40.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Jefferies Financial Group increased their target price on Ally Financial from $35.00 to $40.00 and gave the stock a "hold" rating in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their price target on Ally Financial from $32.00 to $34.00 and gave the stock an "underweight" rating in a research report on Thursday, January 23rd. Royal Bank of Canada upped their price target on shares of Ally Financial from $41.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Finally, Truist Financial decreased their target price on shares of Ally Financial from $47.00 to $45.00 and set a "buy" rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $42.82.

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.