Jupiter Asset Management Ltd. Invests $4.90 Million in Ally Financial Inc. $ALLY

Jupiter Asset Management Ltd. acquired a new stake in Ally Financial Inc. (NYSE:ALLY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 125,092 shares of the financial services provider’s stock, valued at approximately $4,904,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALLY. Allworth Financial LP boosted its holdings in Ally Financial by 385.2% in the 2nd quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 597 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Ally Financial during the 3rd quarter worth approximately $31,000. Hantz Financial Services Inc. raised its position in shares of Ally Financial by 662.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock valued at $32,000 after buying an additional 715 shares during the period. Westside Investment Management Inc. lifted its holdings in Ally Financial by 116.8% in the second quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 451 shares during the last quarter. Finally, MAI Capital Management lifted its holdings in Ally Financial by 45.1% in the second quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 303 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ally Financial

In related news, CEO Michael George Rhodes acquired 23,800 shares of Ally Financial stock in a transaction dated Friday, January 23rd. The shares were acquired at an average cost of $41.68 per share, for a total transaction of $991,984.00. Following the completion of the purchase, the chief executive officer owned 49,434 shares in the company, valued at approximately $2,060,409.12. The trade was a 92.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Russell E. Hutchinson bought 11,566 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were bought at an average cost of $43.17 per share, with a total value of $499,304.22. Following the completion of the purchase, the chief financial officer directly owned 225,336 shares in the company, valued at $9,727,755.12. This represents a 5.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings raised Ally Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Truist Financial cut their price objective on Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, January 26th. JPMorgan Chase & Co. boosted their price objective on shares of Ally Financial from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, January 12th. UBS Group set a $48.00 target price on shares of Ally Financial in a research report on Monday, January 12th. Finally, Wells Fargo & Company upgraded shares of Ally Financial from a “hold” rating to an “overweight” rating in a research report on Wednesday, December 17th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.31.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $42.09 on Friday. The business has a 50-day moving average of $43.75 and a 200 day moving average of $41.55. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $47.27. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 0.21 and a beta of 1.19. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 15.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.30 per share. The ex-dividend date was Monday, February 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Ally Financial’s dividend payout ratio is 51.06%.

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.