EP Wealth Advisors LLC Buys New Shares in Ally Financial Inc. $ALLY

EP Wealth Advisors LLC purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,270 shares of the financial services provider’s stock, valued at approximately $610,000.

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

Insider Activity

In other news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the transaction, the insider directly owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ALLY shares. Truist Financial cut their price objective on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Wall Street Zen downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Citigroup cut their price target on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Finally, Wells Fargo & Company raised their price objective on Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.64.

Ally Financial Stock Performance

NYSE:ALLY opened at $42.45 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The firm has a market cap of $12.91 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10. The business has a 50 day moving average price of $44.76 and a 200-day moving average price of $42.64.

Ally Financial (NYSE:ALLY) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts predict that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.30 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Ally Financial’s payout ratio is presently 28.30%.

Ally Financial Company 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.