Ally Financial Inc. $ALLY Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its position in shares of Ally Financial Inc. (NYSE:ALLY) by 6,419.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 158,549 shares of the financial services provider’s stock after buying an additional 156,117 shares during the period. Fifth Third Bancorp’s holdings in Ally Financial were worth $6,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in Ally Financial by 106.5% during the first quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock valued at $9,158,000 after buying an additional 129,497 shares during the period. NewEdge Advisors LLC raised its position in shares of Ally Financial by 22.8% in the first quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 415 shares during the period. Empowered Funds LLC boosted its stake in shares of Ally Financial by 11.1% during the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 1,292 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Ally Financial during the 1st quarter worth about $259,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Ally Financial by 374.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 1,166 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.14, for a total value of $210,700.00. Following the transaction, the insider directly owned 93,927 shares of the company’s stock, valued at approximately $3,958,083.78. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ALLY has been the subject of several recent analyst reports. Barclays lifted their price target on Ally Financial from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Morgan Stanley raised their price objective on Ally Financial from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, April 20th. The Goldman Sachs Group boosted their price objective on Ally Financial from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Royal Bank Of Canada upped their target price on Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Ally Financial has a consensus rating of “Moderate Buy” and a consensus price target of $53.79.

Ally Financial Stock Up 0.9%

Shares of ALLY opened at $46.73 on Friday. The stock has a 50 day moving average price of $44.07 and a 200 day moving average price of $42.64. Ally Financial Inc. has a one year low of $35.92 and a one year high of $47.29. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.26 and a beta of 1.09.

Ally Financial (NYSE:ALLY) last announced its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.18. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the company posted $0.58 EPS. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. Equities research analysts forecast that Ally Financial Inc. will post 5.31 earnings per share for the current fiscal year.

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.