Private Management Group Inc. Cuts Position in Ally Financial Inc. $ALLY

Private Management Group Inc. trimmed its stake in Ally Financial Inc. (NYSE:ALLY) by 24.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 315,899 shares of the financial services provider’s stock after selling 100,522 shares during the period. Private Management Group Inc. owned 0.10% of Ally Financial worth $14,516,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Fideuram Asset Management Ireland dac purchased a new position in Ally Financial in the fourth quarter valued at about $35,000. Trust Co. of Vermont purchased a new stake in shares of Ally Financial during the second quarter valued at about $36,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Ally Financial during the fourth quarter valued at about $37,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Ally Financial in the 4th quarter valued at about $38,000. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of Ally Financial by 30.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock valued at $40,000 after buying an additional 240 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. 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. Wells Fargo & Company lifted their price target 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. Truist Financial cut their price target on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $58.00 price target on shares of Ally Financial in a research report on Wednesday, July 22nd. Finally, Bank of America increased their price objective on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.64.

Ally Financial Stock Performance

ALLY opened at $42.20 on Friday. The company has a market cap of $12.84 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 0.26 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average price is $44.52 and its 200-day moving average price is $42.63. Ally Financial Inc. has a 52-week low of $35.92 and a 52-week high of $47.29.

Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $0.99 earnings per share. As a group, equities 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. Shareholders of record on Friday, July 31st were issued a $0.30 dividend. 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 dividend payout ratio (DPR) is currently 28.30%.

Insider Activity at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the sale, the insider directly 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 filing with the SEC, which is accessible 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.