Ieq Capital LLC Invests $4.64 Million in Ally Financial Inc. $ALLY

Ieq Capital LLC bought a new position in Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 101,022 shares of the financial services provider’s stock, valued at approximately $4,642,000.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ally Financial in the 4th quarter valued at $29,000. Trust Co. of Vermont purchased a new stake in shares of Ally Financial during the 2nd quarter valued at $36,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Ally Financial during the 4th quarter worth $35,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Ally Financial during the 4th quarter worth $37,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Ally Financial in the 4th quarter worth $38,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALLY has been the topic of a number of research analyst reports. Bank of America lifted their target price on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Truist Financial dropped their price target on Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $58.00 price objective on shares of Ally Financial in a report on Wednesday, July 22nd. Wells Fargo & Company lifted their price objective on Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Wall Street Zen cut Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.64.

Ally Financial Stock Performance

Shares of ALLY stock opened at $42.96 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market cap of $13.07 billion, a PE ratio of 10.13, a P/E/G ratio of 0.27 and a beta of 1.10. The company’s fifty day simple moving average is $44.82 and its 200-day simple moving average is $42.63. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the company posted $0.99 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, July 31st. Ally Financial’s payout ratio is currently 28.30%.

Insider Activity at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the sale, the insider owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

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.