Ally Financial Inc. $ALLY Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in Ally Financial Inc. (NYSE:ALLY) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 674,471 shares of the financial services provider’s stock after purchasing an additional 47,184 shares during the period. Principal Financial Group Inc. owned about 0.22% of Ally Financial worth $26,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lee Financial Co increased its holdings in Ally Financial by 30.3% in the third quarter. Lee Financial Co now owns 31,579 shares of the financial services provider’s stock valued at $1,238,000 after buying an additional 7,352 shares in the last quarter. AlphaQuest LLC grew its position in shares of Ally Financial by 11.0% during the 3rd quarter. AlphaQuest LLC now owns 62,262 shares of the financial services provider’s stock valued at $2,441,000 after acquiring an additional 6,181 shares during the period. Arizona State Retirement System increased its stake in shares of Ally Financial by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 81,807 shares of the financial services provider’s stock valued at $3,207,000 after purchasing an additional 1,173 shares in the last quarter. AE Wealth Management LLC acquired a new position in Ally Financial in the 3rd quarter worth about $355,000. Finally, LRI Investments LLC raised its holdings in Ally Financial by 10.6% in the 3rd quarter. LRI Investments LLC now owns 3,352 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Russell E. Hutchinson purchased 11,566 shares of Ally Financial stock in a transaction dated Tuesday, January 27th. The shares were acquired at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the acquisition, the chief financial officer directly owned 225,336 shares in the company, valued at approximately $9,727,755.12. The trade was a 5.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael George Rhodes acquired 23,800 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was purchased at an average cost of $41.68 per share, with a total value of $991,984.00. Following the acquisition, the chief executive officer directly 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. 0.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ALLY has been the topic of several research analyst reports. Morgan Stanley set a $53.00 price objective on Ally Financial and gave the company an “overweight” rating in a report on Tuesday, December 16th. Evercore dropped their price target on shares of Ally Financial from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Thursday. Truist Financial cut their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a report on Monday, January 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Weiss Ratings raised shares of Ally Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Ally Financial currently has an average rating of “Moderate Buy” and a consensus price target of $50.31.

Ally Financial Price Performance

Ally Financial stock opened at $42.39 on Friday. The company has a fifty day simple moving average of $44.02 and a 200-day simple moving average of $41.29. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 0.21 and a beta of 1.19. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $47.27.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. Ally Financial’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. On average, equities analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial announced that its board has approved a share buyback plan on Wednesday, December 10th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 15.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, February 2nd. 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 51.06%.

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.