London Co. of Virginia Sells 289,688 Shares of Ally Financial Inc. $ALLY

London Co. of Virginia trimmed its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,314,895 shares of the financial services provider’s stock after selling 289,688 shares during the quarter. London Co. of Virginia’s holdings in Ally Financial were worth $195,422,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Ally Financial during the fourth quarter valued at approximately $29,000. Fideuram Asset Management Ireland dac bought a new stake in Ally Financial during the fourth quarter valued at approximately $35,000. Harvest Fund Management Co. Ltd bought a new stake in Ally Financial during the fourth quarter valued at approximately $38,000. SBI Securities Co. Ltd. grew its position in Ally Financial by 43.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 904 shares of the financial services provider’s stock valued at $41,000 after buying an additional 276 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in Ally Financial by 805.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 896 shares of the financial services provider’s stock valued at $41,000 after buying an additional 797 shares during the period. 88.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALLY. Truist Financial set a $54.00 target price on shares of Ally Financial in a research report on Tuesday, April 21st. Barclays boosted their target price on shares of Ally Financial from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings lowered shares of Ally Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group upped their price target on shares of Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Ally Financial presently has an average rating of “Moderate Buy” and an average target price of $54.14.

Ally Financial Stock Performance

ALLY opened at $45.70 on Wednesday. The firm has a market cap of $14.01 billion, a P/E ratio of 11.15, a PEG ratio of 0.28 and a beta of 1.10. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.27. The company has a 50 day simple moving average of $43.04 and a two-hundred day simple moving average of $42.38. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The company’s revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. Equities analysts forecast that Ally Financial Inc. will post 5.28 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. Ally Financial’s dividend payout ratio is currently 29.27%.

Insiders Place Their Bets

In related news, insider Douglas R. Timmerman sold 39,675 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the completion of the transaction, the insider owned 477,627 shares in the company, valued at approximately $21,574,411.59. This represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $42.14, for a total transaction of $210,700.00. Following the transaction, the insider owned 93,927 shares of the company’s stock, valued at approximately $3,958,083.78. This represents a 5.05% decrease in their position. The SEC filing for this sale provides additional information. 0.46% of the stock is currently owned by corporate insiders.

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.