1,185,223 Shares in Ally Financial Inc. $ALLY Bought by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new stake in shares of Ally Financial Inc. (NYSE:ALLY) in the second quarter, Holdings Channel.com reports. The firm acquired 1,185,223 shares of the financial services provider’s stock, valued at approximately $54,461,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ally Financial in the fourth quarter valued at approximately $29,000. Trust Co. of Vermont bought a new stake in Ally Financial during the 2nd quarter worth approximately $36,000. Fideuram Asset Management Ireland dac acquired a new stake in Ally Financial during the 4th quarter valued at $35,000. Safe Harbor Fiduciary LLC acquired a new stake in Ally Financial during the 4th quarter valued at $37,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Ally Financial in the 4th quarter valued at $38,000. 88.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ALLY. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $58.00 target price on shares of Ally Financial in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Truist Financial dropped their target price 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, Bank of America increased their price target on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.64.

Insider Buying and Selling

In related news, insider Stephanie N. Richard sold 5,000 shares of the company’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 completion of the sale, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Ally Financial Trading Down 0.0%

Shares of NYSE ALLY opened at $42.58 on Thursday. The company’s 50 day simple moving average is $44.64 and its 200 day simple moving average is $42.63. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The firm has a market capitalization of $12.95 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.26 and a beta of 1.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92.

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

Ally Financial Announces Dividend

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

Ally Financial Company 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.