Principal Financial Group Inc. Purchases 24,712 Shares of Ally Financial Inc. $ALLY

Principal Financial Group Inc. increased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 4.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 627,319 shares of the financial services provider’s stock after acquiring an additional 24,712 shares during the quarter. Principal Financial Group Inc.’s holdings in Ally Financial were worth $24,610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Ally Financial by 106.5% during the first quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after purchasing an additional 129,497 shares during the period. NewEdge Advisors LLC increased its stake in Ally Financial by 22.8% during the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 415 shares in the last quarter. Empowered Funds LLC raised its holdings in Ally Financial by 11.1% during the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after buying an additional 1,292 shares during the period. Focus Partners Wealth acquired a new stake in Ally Financial during the 1st quarter worth approximately $259,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Ally Financial by 374.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,166 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Price Performance

Ally Financial stock opened at $45.48 on Tuesday. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29. The stock’s 50 day moving average is $44.15 and its 200-day moving average is $42.64. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.26 and a beta of 1.09.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.18. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The firm’s revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. Equities research analysts expect that Ally Financial Inc. will post 5.31 EPS for the current year.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $42.14, for a total value of $210,700.00. Following the sale, the insider owned 93,927 shares in the company, valued at $3,958,083.78. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Evercore reiterated an “outperform” rating and issued a $54.00 price target on shares of Ally Financial in a report on Tuesday, April 21st. Bank of America boosted their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Wells Fargo & Company upped their target price on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. The Goldman Sachs Group increased their target price on Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Citigroup cut their price target on Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ally Financial has an average rating of “Moderate Buy” and a consensus target price of $53.79.

Ally Financial Profile

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.