Public Employees Retirement System of Ohio Makes New $4.44 Million Investment in Ally Financial Inc. $ALLY

Public Employees Retirement System of Ohio acquired a new position in Ally Financial Inc. (NYSE:ALLY) in the second quarter, HoldingsChannel reports. The firm acquired 96,634 shares of the financial services provider’s stock, valued at approximately $4,440,000.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Ally Financial during the 2nd quarter valued at $1,315,659,000. Berkshire Hathaway Inc bought a new stake in Ally Financial in the second quarter worth $1,240,650,000. Donald Smith & CO. Inc. purchased a new stake in Ally Financial during the second quarter valued at about $172,509,000. Norges Bank bought a new position in shares of Ally Financial during the fourth quarter valued at about $157,610,000. Finally, Wellington Management Group LLP grew its stake in shares of Ally Financial by 19.5% during the fourth quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock valued at $646,347,000 after buying an additional 2,332,610 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ALLY. Bank of America lifted their price objective on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Truist Financial reduced their price target 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. Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Raymond James Financial began coverage on Ally Financial in a research note on Tuesday. They set a “strong-buy” rating and a $55.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.73.

Insider Activity

In other news, insider Stephanie N. Richard sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction 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. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Ally Financial Price Performance

ALLY stock opened at $42.69 on Thursday. The stock has a market capitalization of $12.99 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.26 and a beta of 1.09. The firm’s 50-day moving average price is $44.32 and its two-hundred day moving average price is $42.65. 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.

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

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, July 31st. Ally Financial’s dividend payout ratio (DPR) is currently 28.30%.

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.