64,889 Shares in Ally Financial Inc. (NYSE:ALLY) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,889 shares of the financial services provider's stock, valued at approximately $2,337,000.

A number of other large investors have also recently bought and sold shares of ALLY. Oak Thistle LLC acquired a new stake in shares of Ally Financial during the 4th quarter worth approximately $1,112,000. Point72 Asset Management L.P. acquired a new stake in shares of Ally Financial in the 3rd quarter valued at $21,571,000. State Street Corp increased its stake in shares of Ally Financial by 0.5% in the 3rd quarter. State Street Corp now owns 10,704,719 shares of the financial services provider's stock valued at $380,981,000 after purchasing an additional 51,426 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Ally Financial during the 4th quarter worth $461,000. Finally, Franklin Resources Inc. lifted its position in shares of Ally Financial by 184.7% during the 3rd quarter. Franklin Resources Inc. now owns 532,090 shares of the financial services provider's stock worth $19,044,000 after buying an additional 345,210 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Ally Financial from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of Ally Financial from $32.00 to $34.00 and gave the company an "underweight" rating in a research note on Thursday, January 23rd. Morgan Stanley boosted their target price on shares of Ally Financial from $41.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Truist Financial boosted their price objective on Ally Financial from $42.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada increased their target price on Ally Financial from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $42.65.

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Ally Financial Trading Up 1.0 %

Shares of NYSE:ALLY traded up $0.38 during midday trading on Wednesday, reaching $37.07. The company's stock had a trading volume of 2,748,079 shares, compared to its average volume of 3,406,772. Ally Financial Inc. has a fifty-two week low of $31.95 and a fifty-two week high of $45.46. 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 firm has a 50 day moving average price of $37.00 and a two-hundred day moving average price of $36.43. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results 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 return on equity of 9.31% and a net margin of 11.29%. The firm had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the prior year, the business earned $0.45 EPS. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.24%. Ally Financial's dividend payout ratio (DPR) is presently 46.15%.

Insider Activity

In other Ally Financial news, CFO Russell E. Hutchinson acquired 19,100 shares of Ally Financial stock in a transaction dated Friday, January 24th. The stock was purchased 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael George Rhodes purchased 25,634 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was bought at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the transaction, the chief executive officer now directly owns 25,634 shares in the company, valued at $1,002,033.06. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by company insiders.

Ally Financial Company 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.