Governors Lane LP Buys 243,450 Shares of Ally Financial Inc. $ALLY

Governors Lane LP grew its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 112.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 459,482 shares of the financial services provider’s stock after buying an additional 243,450 shares during the quarter. Ally Financial accounts for approximately 1.2% of Governors Lane LP’s portfolio, making the stock its 14th largest holding. Governors Lane LP owned about 0.15% of Ally Financial worth $20,810,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ALLY. Norges Bank purchased a new stake in shares of Ally Financial during the fourth quarter worth about $157,610,000. Wellington Management Group LLP boosted its holdings in shares of Ally Financial by 19.6% during the third quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock worth $467,996,000 after purchasing an additional 1,958,201 shares during the period. Qube Research & Technologies Ltd boosted its holdings in shares of Ally Financial by 8,255.7% during the third quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock worth $48,231,000 after purchasing an additional 1,215,659 shares during the period. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of Ally Financial during the third quarter worth about $45,733,000. Finally, Bank of America Corp DE boosted its holdings in shares of Ally Financial by 38.9% during the second quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock worth $146,888,000 after purchasing an additional 1,056,060 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the transaction, the insider directly owned 93,927 shares in the company, valued at approximately $3,958,083.78. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the transaction, the insider owned 477,627 shares of the company’s stock, valued at $21,574,411.59. The trade was a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ALLY shares. Barclays increased their target price on shares of Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Morgan Stanley increased their target price on shares of Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Evercore reiterated an “outperform” rating and set a $54.00 target price on shares of Ally Financial in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Truist Financial set a $54.00 target price on shares of Ally Financial in a report on Tuesday, April 21st. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.14.

Ally Financial Stock Performance

Shares of ALLY opened at $45.44 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93. Ally Financial Inc. has a one year low of $35.92 and a one year high of $47.27. The company has a 50-day simple moving average of $43.14 and a two-hundred day simple moving average of $42.41. The firm has a market capitalization of $13.93 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.93 by $0.18. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the business posted $0.58 earnings per share. Ally Financial’s quarterly revenue was up 36.4% compared to the same quarter last year. On average, analysts anticipate that Ally Financial Inc. will post 5.28 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.30 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.20 annualized dividend and a yield of 2.6%. Ally Financial’s dividend payout ratio (DPR) is 29.27%.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.