Retirement Systems of Alabama Raises Holdings in Ally Financial Inc. (NYSE:ALLY)

Retirement Systems of Alabama increased its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,997 shares of the financial services provider’s stock after purchasing an additional 1,054 shares during the quarter. Retirement Systems of Alabama owned approximately 0.11% of Ally Financial worth $11,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Ally Financial by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 28,009,495 shares of the financial services provider’s stock valued at $747,293,000 after purchasing an additional 290,842 shares during the last quarter. Bank of New York Mellon Corp grew its position in Ally Financial by 47.5% in the third quarter. Bank of New York Mellon Corp now owns 3,620,655 shares of the financial services provider’s stock valued at $96,599,000 after acquiring an additional 1,165,220 shares in the last quarter. FMR LLC raised its stake in shares of Ally Financial by 47.1% during the third quarter. FMR LLC now owns 3,316,501 shares of the financial services provider’s stock valued at $88,484,000 after purchasing an additional 1,061,651 shares during the period. Northern Trust Corp lifted its position in shares of Ally Financial by 34.2% during the third quarter. Northern Trust Corp now owns 3,122,515 shares of the financial services provider’s stock worth $83,309,000 after purchasing an additional 795,754 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Ally Financial by 15.7% in the fourth quarter. AustralianSuper Pty Ltd now owns 2,610,685 shares of the financial services provider’s stock valued at $91,165,000 after purchasing an additional 353,344 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Ally Financial in a report on Thursday, February 1st. Raymond James lowered Ally Financial from a “market perform” rating to an “underperform” rating in a research note on Friday, January 5th. Bank of America raised Ally Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $42.00 to $46.00 in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ally Financial in a research report on Wednesday, January 10th. They set a “buy” rating and a $47.00 price target for the company. Finally, Evercore ISI upped their price target on shares of Ally Financial from $41.00 to $43.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.47.

Ally Financial Stock Up 0.5 %

Shares of Ally Financial stock opened at $38.56 on Thursday. The company has a market capitalization of $11.72 billion, a P/E ratio of 15.74, a PEG ratio of 0.56 and a beta of 1.40. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a 1-year low of $22.54 and a 1-year high of $41.56. The business’s fifty day moving average price is $38.18 and its two-hundred day moving average price is $33.76.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.12. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. As a group, research analysts forecast that Ally Financial Inc. will post 2.99 EPS for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.20 annualized dividend and a yield of 3.11%. Ally Financial’s payout ratio is presently 48.98%.

Ally Financial Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.