Ally Financial Inc. $ALLY Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in Ally Financial Inc. (NYSE:ALLY) by 9.3% during the second quarter, HoldingsChannel.com reports. The firm owned 10,308,012 shares of the financial services provider’s stock after selling 1,050,896 shares during the quarter. Wellington Management Group LLP’s holdings in Ally Financial were worth $473,653,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Fideuram Asset Management Ireland dac purchased a new stake in shares of Ally Financial during the 4th quarter worth about $35,000. Trust Co. of Vermont purchased a new position in Ally Financial in the second quarter valued at approximately $36,000. Safe Harbor Fiduciary LLC acquired a new position in Ally Financial during the fourth quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd acquired a new position in Ally Financial during the fourth quarter valued at approximately $38,000. Finally, SJS Investment Consulting Inc. grew its stake in Ally Financial by 30.8% during the first quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock worth $40,000 after buying an additional 240 shares during the period. 88.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Stephanie N. Richard sold 5,000 shares of the business’s 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 owned 88,927 shares in the company, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ALLY shares. Weiss Ratings raised shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Citigroup decreased their price target on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $58.00 price target on shares of Ally Financial in a report on Wednesday, July 22nd. Truist Financial cut their price objective on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Finally, Wall Street Zen cut Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.64.

Ally Financial Price Performance

Shares of ALLY stock opened at $42.20 on Friday. The company has a market capitalization of $12.84 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 0.26 and a beta of 1.10. The firm has a fifty day simple moving average of $44.52 and a 200-day simple moving average of $42.63. 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 twelve month low of $35.92 and a twelve month high of $47.29.

Ally Financial (NYSE:ALLY) last released its quarterly 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). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the firm earned $0.99 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders 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 dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, July 31st. Ally Financial’s payout ratio is presently 28.30%.

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.