Trail Ridge Investment Advisors LLC Makes New Investment in Ally Financial Inc. $ALLY

Trail Ridge Investment Advisors LLC purchased a new position in Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,502 shares of the financial services provider’s stock, valued at approximately $712,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada raised its stake 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 valued at $9,158,000 after purchasing an additional 129,497 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of 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 during the last quarter. Empowered Funds LLC boosted its stake in shares of 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 purchasing an additional 1,292 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Ally Financial during the first quarter worth about $259,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of 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 during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Trading Down 1.1%

ALLY stock opened at $42.45 on Tuesday. The company has a market cap of $12.91 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.27 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $44.76 and a 200-day simple moving average of $42.64. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29.

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

Ally Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America lifted their target price on shares of Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Truist Financial lowered their price objective on Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Wells Fargo & Company increased their target price on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.64.

Insider Buying and Selling

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

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.