Chou Associates Management Inc. Invests $10.36 Million in Ally Financial Inc. $ALLY

Chou Associates Management Inc. bought a new position in shares of Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 225,525 shares of the financial services provider’s stock, valued at approximately $10,363,000. Ally Financial comprises about 4.8% of Chou Associates Management Inc.’s holdings, making the stock its 7th largest position. Chou Associates Management Inc. owned 0.07% of Ally Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Ally Financial by 106.5% in the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after acquiring an additional 129,497 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Ally Financial by 22.8% during the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 415 shares in the last quarter. Empowered Funds LLC grew its stake in Ally Financial by 11.1% during the first quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 1,292 shares during the period. Focus Partners Wealth acquired a new stake in Ally Financial during the first quarter worth approximately $259,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Ally Financial by 374.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,166 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Trading Up 1.6%

Shares of Ally Financial stock opened at $42.96 on Friday. 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 Inc. has a 52 week low of $35.92 and a 52 week high of $47.29. The stock has a 50 day moving average price of $44.82 and a two-hundred day moving average price of $42.63. The stock has a market capitalization of $13.07 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10.

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

Ally Financial Dividend Announcement

The firm also recently declared 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 yield of 2.8%. The ex-dividend date was Friday, July 31st. Ally Financial’s payout ratio is 28.30%.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the transaction, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ALLY shares. Royal Bank Of Canada boosted their price target on Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Bank of America lifted their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Citigroup dropped their target price on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $58.00 target price on shares of Ally Financial in a research note on Wednesday, July 22nd. Finally, Truist Financial reduced their price target on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.64.

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.