975,205 Shares in Ally Financial Inc. $ALLY Purchased by Goldentree Asset Management LP

Goldentree Asset Management LP purchased a new stake in Ally Financial Inc. (NYSE:ALLY) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 975,205 shares of the financial services provider’s stock, valued at approximately $38,155,000. Ally Financial comprises approximately 3.2% of Goldentree Asset Management LP’s investment portfolio, making the stock its 14th largest holding.

A number of other hedge funds also recently modified their holdings of the company. Allworth Financial LP grew its holdings in shares of Ally Financial by 385.2% during the 2nd quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 597 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Ally Financial in the third quarter valued at $31,000. MAI Capital Management raised its stake in shares of 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 purchasing an additional 303 shares in the last quarter. Larson Financial Group LLC lifted its position in Ally Financial by 67.0% in the third quarter. Larson Financial Group LLC now owns 1,072 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 430 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Ally Financial by 98.7% during the third quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the financial services provider’s stock worth $44,000 after buying an additional 552 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Performance

Ally Financial stock opened at $37.59 on Thursday. The firm has a market capitalization of $11.62 billion, a P/E ratio of 15.99, a P/E/G ratio of 0.19 and a beta of 1.18. The stock has a fifty day moving average price of $41.22 and a two-hundred day moving average price of $41.52. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $47.27. 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 earnings results on Wednesday, January 21st. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. As a group, analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

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

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were given a $0.30 dividend. The ex-dividend date was Monday, February 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. Ally Financial’s payout ratio is 51.06%.

Insider Activity

In other news, CFO Russell E. Hutchinson bought 11,566 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was bought at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the purchase, the chief financial officer owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. The trade was a 5.41% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael George Rhodes bought 23,800 shares of Ally Financial stock in a transaction dated Friday, January 23rd. The stock was acquired at an average cost of $41.68 per share, for a total transaction of $991,984.00. Following the completion of the acquisition, the chief executive officer directly owned 49,434 shares in the company, valued at $2,060,409.12. This represents a 92.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ALLY shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Wells Fargo & Company raised shares of Ally Financial from a “hold” rating to an “overweight” rating in a report on Wednesday, December 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 target price on shares of Ally Financial in a research report on Tuesday, January 6th. BTIG Research reissued a “neutral” rating on shares of Ally Financial in a research report on Tuesday, January 6th. Finally, Truist Financial cut their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.31.

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.