3,480,024 Shares in Ally Financial Inc. $ALLY Purchased by Norges Bank

Norges Bank bought a new position in shares of Ally Financial Inc. (NYSE:ALLY) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,480,024 shares of the financial services provider’s stock, valued at approximately $157,610,000.

A number of other hedge funds have also recently bought and sold shares of ALLY. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ally Financial during the fourth quarter worth about $29,000. Fideuram Asset Management Ireland dac acquired a new position in Ally Financial during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. grew its holdings in Ally Financial by 43.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 904 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 276 shares during the period. Larson Financial Group LLC grew its holdings in Ally Financial by 67.0% during the third quarter. Larson Financial Group LLC now owns 1,072 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 430 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Ally Financial by 98.7% during the third quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 552 shares during the period. 88.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Douglas R. Timmerman sold 39,675 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the completion of the sale, the insider directly owned 477,627 shares in the company, valued at approximately $21,574,411.59. This trade represents a 7.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the sale, the insider owned 93,927 shares of the company’s stock, valued at $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALLY. Bank of America lifted their target price on Ally Financial from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Barclays lifted their target price on Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Truist Financial set a $54.00 target price on Ally Financial in a report on Tuesday, April 21st. JPMorgan Chase & Co. lowered their target price on Ally Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Finally, Wall Street Zen raised Ally Financial from a “hold” rating to a “buy” rating in a report on Sunday. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and an average price target of $54.14.

Ally Financial Trading Down 2.8%

NYSE:ALLY opened at $41.01 on Thursday. Ally Financial Inc. has a 1-year low of $34.74 and a 1-year high of $47.27. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 0.26 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The stock has a fifty day simple moving average of $42.25 and a 200 day simple moving average of $42.09.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company posted $0.58 EPS. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. Sell-side analysts forecast that Ally Financial Inc. will post 5.3 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 1st. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Ally Financial’s dividend payout ratio (DPR) is presently 29.27%.

About Ally Financial

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.