Great Lakes Advisors LLC Takes $976,000 Position in Ally Financial Inc. $ALLY

Great Lakes Advisors LLC purchased a new position in Ally Financial Inc. (NYSE:ALLY) during the second quarter, HoldingsChannel reports. The firm purchased 21,235 shares of the financial services provider’s stock, valued at approximately $976,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. lifted its holdings in Ally Financial by 30.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock valued at $40,000 after buying an additional 240 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Ally Financial by 3.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 243 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in Ally Financial by 31.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,052 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 252 shares in the last quarter. Triumph Capital Management increased its position in shares of Ally Financial by 9.2% during the fourth quarter. Triumph Capital Management now owns 3,133 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 265 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Ally Financial by 25.0% during the fourth quarter. Larson Financial Group LLC now owns 1,340 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 268 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Insider Transactions at Ally Financial

In other news, insider Stephanie N. 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 value of $221,150.00. Following the transaction, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America boosted their price target on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wells Fargo & Company raised their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $58.00 target price on shares of Ally Financial in a report on Wednesday, July 22nd. Finally, Truist Financial dropped their price target on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.64.

Ally Financial Price Performance

Shares of ALLY opened at $42.96 on Friday. The company has a 50 day moving average price of $44.82 and a 200-day moving average price of $42.63. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The stock has a market capitalization of $13.07 billion, a PE ratio of 10.13, a PEG ratio of 0.27 and a beta of 1.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. Ally Financial’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 earnings per share. Equities analysts predict that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently announced 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. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, July 31st. Ally Financial’s dividend payout ratio (DPR) is 28.30%.

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.