Amalgamated Bank Acquires 11,412 Shares of Ally Financial Inc. (NYSE:ALLY)

Amalgamated Bank increased its holdings in Ally Financial Inc. (NYSE:ALLY) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,093 shares of the financial services provider’s stock after purchasing an additional 11,412 shares during the period. Amalgamated Bank owned approximately 0.06% of Ally Financial worth $6,429,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Xponance Inc. raised its position in shares of Ally Financial by 238.7% in the third quarter. Xponance Inc. now owns 32,894 shares of the financial services provider’s stock valued at $878,000 after purchasing an additional 23,182 shares during the period. Bank of New York Mellon Corp raised its holdings in Ally Financial by 47.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,620,655 shares of the financial services provider’s stock worth $96,599,000 after acquiring an additional 1,165,220 shares during the period. New York State Teachers Retirement System acquired a new position in Ally Financial during the 3rd quarter worth $2,490,000. Mackenzie Financial Corp boosted its holdings in Ally Financial by 3.8% during the third quarter. Mackenzie Financial Corp now owns 22,417 shares of the financial services provider’s stock valued at $557,000 after acquiring an additional 818 shares during the period. Finally, Strs Ohio grew its position in shares of Ally Financial by 12.8% in the third quarter. Strs Ohio now owns 50,976 shares of the financial services provider’s stock valued at $1,360,000 after purchasing an additional 5,780 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Price Performance

Ally Financial stock opened at $39.37 on Monday. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 0.57 and a beta of 1.39. Ally Financial Inc. has a 12-month low of $22.54 and a 12-month high of $41.56. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. The business’s 50-day simple moving average is $38.30 and its 200 day simple moving average is $34.01.

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

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.30 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.05%. Ally Financial’s dividend payout ratio is currently 48.98%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $40.00 target price on shares of Ally Financial in a research note on Monday, January 22nd. Bank of America upgraded shares of 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 note on Tuesday, April 9th. The Goldman Sachs Group restated a “buy” rating on shares of Ally Financial in a report on Thursday, February 1st. Morgan Stanley raised shares of Ally Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $37.00 to $47.00 in a report on Thursday, February 8th. Finally, Evercore ISI raised their price objective on shares of Ally Financial from $41.00 to $43.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.47.

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.