Lakewood Capital Management LP Takes Position in Ally Financial Inc. $ALLY

Lakewood Capital Management LP acquired a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,758,809 shares of the financial services provider’s stock, valued at approximately $80,817,000. Ally Financial makes up 4.2% of Lakewood Capital Management LP’s portfolio, making the stock its 4th biggest holding.

A number of other large investors also recently bought and sold shares of the business. Tocqueville Asset Management L.P. purchased a new position in shares of Ally Financial in the 2nd quarter valued at $17,613,000. State of Wyoming purchased a new stake in shares of Ally Financial during the 2nd quarter worth $3,195,000. Intech Investment Management LLC bought a new stake in Ally Financial during the fourth quarter valued at about $3,926,000. Geode Capital Management LLC boosted its position in Ally Financial by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider’s stock valued at $243,795,000 after purchasing an additional 241,000 shares in the last quarter. Finally, Qsemble Capital Management LP grew its stake in Ally Financial by 136.0% in the fourth quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider’s stock valued at $7,235,000 after purchasing an additional 92,043 shares during the last quarter. Institutional investors own 88.76% of the company’s stock.

Insider Buying and Selling at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Ally Financial Trading Down 1.1%

NYSE:ALLY opened at $42.45 on Tuesday. The company has a market capitalization of $12.91 billion, a P/E ratio of 10.01, a PEG ratio of 0.27 and a beta of 1.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29. The firm has a fifty day simple moving average of $44.76 and a 200-day simple moving average of $42.64.

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

Ally Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $58.00 price target on shares of Ally Financial in a report on Wednesday, July 22nd. Royal Bank Of Canada lifted their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Truist Financial reduced 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. Finally, Wall Street Zen cut shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.64.

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.