Ally Financial Inc. $ALLY Stock Sold by State of Wyoming

State of Wyoming decreased its position in Ally Financial Inc. (NYSE:ALLY) by 28.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,690 shares of the financial services provider’s stock after selling 19,832 shares during the period. State of Wyoming’s holdings in Ally Financial were worth $1,869,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new position in Ally Financial during the second quarter worth about $1,315,659,000. Berkshire Hathaway Inc purchased a new position in Ally Financial during the 2nd quarter valued at about $1,240,650,000. Donald Smith & CO. Inc. purchased a new position in Ally Financial during the 2nd quarter valued at about $172,509,000. Bank of America Corp DE acquired a new position in Ally Financial in the 2nd quarter valued at about $105,379,000. Finally, Bank of New York Mellon Corp acquired a new position in Ally Financial in the 2nd quarter valued at about $103,930,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Kathleen L. Patterson sold 12,831 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $38.65, for a total value of $495,918.15. Following the sale, the insider owned 67,781 shares in the company, valued at $2,619,735.65. This represents a 15.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the sale, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ALLY has been the topic of several recent research reports. Wells Fargo & Company downgraded shares of Ally Financial from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $55.00 to $42.00 in a research note on Wednesday, September 30th. Evercore set a $40.00 target price on Ally Financial in a research note on Wednesday, October 21st. Truist Financial reduced their price target on Ally Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup decreased their price target on shares of Ally Financial from $58.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, September 25th. Finally, Deutsche Bank Aktiengesellschaft set a $56.00 price objective on shares of Ally Financial in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ally Financial has a consensus rating of “Moderate Buy” and a consensus target price of $48.07.

Ally Financial Trading Down 3.8%

NYSE:ALLY opened at $38.14 on Friday. The company has a market capitalization of $11.60 billion, a PE ratio of 8.35, a P/E/G ratio of 0.33 and a beta of 1.11. Ally Financial Inc. has a 52-week low of $35.92 and a 52-week high of $47.29. The stock’s 50 day moving average price is $39.78 and its 200 day moving average price is $41.92. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.45.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Ally Financial had a net margin of 16.84% and a return on equity of 12.11%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business earned $1.15 EPS. Ally Financial’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that Ally Financial Inc. will post 4.99 EPS for the current year.

Ally Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.40 annualized dividend and a dividend yield of 3.7%. This is an increase from Ally Financial’s previous quarterly dividend of $0.30. Ally Financial’s payout ratio is 27.52%.

Ally Financial Company Profile

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan, and traded on the New York Stock Exchange under the symbol ALLY. The company primarily serves consumers, automotive dealers and businesses in the United States through online and branchless banking and financing platforms.

Ally’s automotive finance business provides retail installment loans and leases to consumers and floorplan financing and other services to automotive dealers. Its consumer banking operations, conducted through Ally Bank, offer deposit products such as savings accounts, money market accounts and certificates of deposit, along with consumer lending products.

The company also provides credit cards and commercial financing, and offers investment and brokerage services through Ally Invest.