Capital World Investors Increases Stock Position in Ally Financial Inc. $ALLY

Capital World Investors boosted its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 592,506 shares of the financial services provider’s stock after buying an additional 40,792 shares during the quarter. Capital World Investors’ holdings in Ally Financial were worth $26,835,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ALLY. Norges Bank purchased a new position in Ally Financial during the fourth quarter worth about $157,610,000. Wellington Management Group LLP boosted its stake in Ally Financial by 19.6% during the third quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock worth $467,996,000 after buying an additional 1,958,201 shares during the period. Qube Research & Technologies Ltd boosted its stake in Ally Financial by 8,255.7% during the third quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock worth $48,231,000 after buying an additional 1,215,659 shares during the period. Danica Pension Livsforsikringsaktieselskab purchased a new position in Ally Financial during the third quarter worth about $45,733,000. Finally, Bank of America Corp DE boosted its stake in Ally Financial by 38.9% during the second quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock worth $146,888,000 after buying an additional 1,056,060 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALLY. Weiss Ratings lowered shares of Ally Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Morgan Stanley increased their target price on shares of Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Barclays increased their price target on shares of Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. The Goldman Sachs Group increased their price target on shares of Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Evercore reissued an “outperform” rating and set a $54.00 price target on shares of Ally Financial in a research report on Tuesday, April 21st. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.14.

Insider Activity at Ally Financial

In related news, insider Douglas R. Timmerman sold 39,675 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the sale, the insider owned 477,627 shares of the company’s stock, valued at $21,574,411.59. This trade represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $210,700.00. Following the completion of the sale, the insider directly owned 93,927 shares in the company, valued at approximately $3,958,083.78. This trade represents a 5.05% decrease in their position. The SEC filing for this sale provides additional information. 0.46% of the stock is owned by company insiders.

Ally Financial Stock Up 2.4%

Shares of ALLY opened at $43.39 on Wednesday. The stock has a market capitalization of $13.30 billion, a PE ratio of 10.58, a P/E/G ratio of 0.26 and a beta of 1.10. Ally Financial Inc. has a 1 year low of $35.90 and a 1 year high of $47.27. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.93. The company’s 50-day simple moving average is $42.55 and its 200-day simple moving average is $42.21.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.18. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 earnings per share. Analysts forecast that Ally Financial Inc. will post 5.28 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is 29.27%.

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.