71,100 Shares in Ally Financial Inc. $ALLY Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, Holdings Channel.com reports. The firm bought 71,100 shares of the financial services provider’s stock, valued at approximately $3,267,000.

A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Ally Financial in the second quarter valued at approximately $1,315,659,000. Berkshire Hathaway Inc acquired a new position in Ally Financial during the second quarter worth $1,240,650,000. California State Teachers Retirement System grew its position in Ally Financial by 4,362.7% in the second quarter. California State Teachers Retirement System now owns 14,336,308 shares of the financial services provider’s stock valued at $658,753,000 after purchasing an additional 14,015,057 shares in the last quarter. Donald Smith & CO. Inc. bought a new position in Ally Financial in the second quarter valued at $172,509,000. Finally, Norges Bank acquired a new stake in Ally Financial in the 4th quarter valued at $157,610,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Insider Buying and Selling at Ally Financial

In other news, insider Stephanie Richard sold 5,000 shares of Ally Financial 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 approximately $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Ally Financial Trading Down 0.9%

Shares of NYSE:ALLY opened at $41.90 on Thursday. 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 $12.75 billion, a PE ratio of 9.88, a P/E/G ratio of 0.26 and a beta of 1.09. The business has a 50 day moving average of $43.98 and a 200-day moving average of $42.71. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Ally Financial (NYSE:ALLY) last announced 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 the consensus estimate of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.Ally Financial’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. As a group, equities research analysts forecast that Ally Financial Inc. will post 5.2 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 2.9%. Ally Financial’s dividend payout ratio (DPR) is presently 28.30%.

Analysts Set New Price Targets

Several equities research analysts have 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 target price on Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Raymond James Financial began coverage on Ally Financial in a report on Tuesday, September 1st. They set a “strong-buy” rating and a $55.00 target price on the stock. Bank of America increased their price target on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada boosted their price target on Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.73.

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.