Maryland State Retirement & Pension System lessened its position in shares of Ally Financial Inc. (NYSE:ALLY – Get Rating) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,115 shares of the financial services provider’s stock after selling 1,339 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Ally Financial were worth $1,135,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wolf Group Capital Advisors lifted its stake in shares of Ally Financial by 209.1% during the fourth quarter. Wolf Group Capital Advisors now owns 73,962 shares of the financial services provider’s stock valued at $3,521,000 after acquiring an additional 50,034 shares during the period. Weiss Multi Strategy Advisers LLC increased its holdings in Ally Financial by 141.5% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 362,275 shares of the financial services provider’s stock valued at $17,248,000 after purchasing an additional 212,275 shares during the last quarter. Ascent Group LLC bought a new stake in Ally Financial in the fourth quarter valued at about $2,230,000. Van ECK Associates Corp increased its holdings in Ally Financial by 66.3% in the fourth quarter. Van ECK Associates Corp now owns 2,199 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 877 shares during the last quarter. Finally, L & S Advisors Inc increased its holdings in Ally Financial by 6.4% in the fourth quarter. L & S Advisors Inc now owns 54,272 shares of the financial services provider’s stock valued at $2,584,000 after purchasing an additional 3,262 shares during the last quarter. 94.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Jason E. Schugel sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $45.00, for a total transaction of $112,500.00. Following the completion of the transaction, the insider now directly owns 82,476 shares of the company’s stock, valued at $3,711,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by company insiders.
Ally Financial (NYSE:ALLY – Get Rating) last posted its quarterly earnings data on Thursday, April 14th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.10. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.13 billion. Ally Financial had a return on equity of 21.56% and a net margin of 34.73%. Ally Financial’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $2.09 earnings per share. On average, research analysts predict that Ally Financial Inc. will post 7.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Investors of record on Monday, May 2nd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, April 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.62%. Ally Financial’s payout ratio is presently 15.09%.
A number of research firms recently commented on ALLY. Morgan Stanley dropped their price objective on Ally Financial from $73.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Piper Sandler dropped their price objective on Ally Financial from $54.00 to $47.00 and set a “neutral” rating for the company in a report on Monday, April 18th. StockNews.com began coverage on Ally Financial in a report on Thursday, March 31st. They issued a “hold” rating for the company. Raymond James lowered their price target on Ally Financial from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, April 18th. Finally, Wells Fargo & Company lowered their price target on Ally Financial from $57.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, April 18th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.36.
Ally Financial Company Profile (Get Rating)
Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
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