Strs Ohio Has $259,000 Position in Ally Financial Inc. $ALLY

Strs Ohio cut its stake in Ally Financial Inc. (NYSE:ALLY) by 84.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,598 shares of the financial services provider’s stock after selling 35,603 shares during the period. Strs Ohio’s holdings in Ally Financial were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ALLY. Norges Bank bought a new position in shares of Ally Financial in the second quarter worth $95,897,000. Arrowstreet Capital Limited Partnership lifted its position in Ally Financial by 39.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider’s stock worth $210,352,000 after purchasing an additional 1,523,425 shares during the period. Marshall Wace LLP acquired a new stake in Ally Financial during the second quarter worth about $51,661,000. American Century Companies Inc. increased its holdings in Ally Financial by 196.2% in the 2nd quarter. American Century Companies Inc. now owns 1,720,656 shares of the financial services provider’s stock valued at $67,020,000 after buying an additional 1,139,703 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in Ally Financial in the 2nd quarter valued at about $44,101,000. 88.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Ally Financial from a “hold” rating to an “overweight” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. boosted their price objective on shares of Ally Financial from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Truist Financial reduced their target price on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Barclays lifted their price target on Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Finally, TD Cowen restated a “buy” rating on shares of Ally Financial in a research report on Thursday, January 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.44.

Insider Activity at Ally Financial

In other Ally Financial news, CFO Russell E. Hutchinson purchased 11,566 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was purchased at an average price of $43.17 per share, with a total value of $499,304.22. Following the completion of the purchase, the chief financial officer owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. The trade was a 5.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael George Rhodes purchased 23,800 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were acquired at an average price of $41.68 per share, for a total transaction of $991,984.00. Following the acquisition, the chief executive officer owned 49,434 shares of the company’s stock, valued at $2,060,409.12. This trade represents a 92.85% increase in their position. The SEC filing for this purchase provides additional information. 0.56% of the stock is owned by company insiders.

Ally Financial Trading Down 1.7%

NYSE ALLY opened at $42.21 on Monday. The company has a market cap of $13.00 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.21 and a beta of 1.19. Ally Financial Inc. has a twelve month low of $29.52 and a twelve month high of $47.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The business’s fifty day moving average is $43.86 and its 200 day moving average is $41.22.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, February 2nd. Ally Financial’s dividend payout ratio (DPR) is 51.06%.

Ally Financial declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 10th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 15.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.