State of Wyoming Acquires New Position in Ally Financial Inc. $ALLY

State of Wyoming acquired a new stake in Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 69,522 shares of the financial services provider’s stock, valued at approximately $3,195,000. Ally Financial accounts for 0.3% of State of Wyoming’s holdings, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Intech Investment Management LLC purchased a new position in shares of Ally Financial during the 4th quarter valued at $3,926,000. Evergreen Capital Management LLC increased its stake in shares of Ally Financial by 781.9% in the fourth quarter. Evergreen Capital Management LLC now owns 45,939 shares of the financial services provider’s stock worth $2,081,000 after acquiring an additional 40,730 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 worth $243,795,000 after acquiring an additional 241,000 shares in the last quarter. Qsemble Capital Management LP raised its holdings in shares of Ally Financial by 136.0% during the fourth quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider’s stock worth $7,235,000 after acquiring an additional 92,043 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Ally Financial by 166.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 66,595 shares of the financial services provider’s stock valued at $3,016,000 after purchasing an additional 41,574 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. The Goldman Sachs Group boosted their target price on Ally Financial from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Truist Financial reduced their price target on Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a 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. Finally, Wells Fargo & Company increased their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.64.

Ally Financial Stock Up 0.7%

ALLY stock opened at $44.89 on Friday. 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 1 year low of $35.92 and a 1 year high of $47.29. The company has a fifty day simple moving average of $44.82 and a 200 day simple moving average of $42.61. The firm has a market cap of $13.66 billion, a PE ratio of 10.59, a PEG ratio of 0.28 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The company’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. Sell-side analysts anticipate that Ally Financial Inc. will post 5.19 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, July 31st. Ally Financial’s dividend payout ratio is 28.30%.

Insider Activity

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 transaction of $221,150.00. Following the transaction, the insider owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

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.