Corient Private Wealth LP Buys Shares of 293,699 Ally Financial Inc. $ALLY

Corient Private Wealth LP bought a new stake in shares of Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 293,699 shares of the financial services provider’s stock, valued at approximately $10,216,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Ally Financial during the second quarter worth approximately $1,315,659,000. Berkshire Hathaway Inc purchased a new position in Ally Financial in the 2nd quarter valued at $1,240,650,000. Donald Smith & CO. Inc. acquired a new stake in Ally Financial during the 2nd quarter worth $172,509,000. Norges Bank acquired a new stake in Ally Financial during the 4th quarter worth $157,610,000. Finally, Wellington Management Group LLP lifted its stake in shares of Ally Financial by 19.5% in the fourth quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock worth $646,347,000 after buying an additional 2,332,610 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Price Performance

Ally Financial stock opened at $42.20 on Friday. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month high of $47.29. The stock has a market cap of $12.84 billion, a P/E ratio of 9.95, a PEG ratio of 0.26 and a beta of 1.10. The company has a 50-day moving average price of $44.52 and a 200 day moving average price 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 (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 the consensus estimate of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on ALLY. Truist Financial lowered their price target on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Royal Bank Of Canada increased their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Citigroup decreased their target price on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $58.00 price target on shares of Ally Financial in a report on Wednesday, July 22nd. Fourteen equities research 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, Ally Financial currently has a consensus rating of “Moderate Buy” and an average price target of $53.64.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.