KLP Kapitalforvaltning AS Acquires New Holdings in Ally Financial Inc. (NYSE:ALLY)

KLP Kapitalforvaltning AS bought a new position in Ally Financial Inc. (NYSE:ALLY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 84,335 shares of the financial services provider’s stock, valued at approximately $3,037,000.

Other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in shares of Ally Financial by 233.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock worth $87,509,000 after buying an additional 1,701,264 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Ally Financial by 217.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock worth $81,260,000 after acquiring an additional 1,563,008 shares during the period. ANTIPODES PARTNERS Ltd grew its stake in shares of Ally Financial by 75.6% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,956,037 shares of the financial services provider’s stock worth $106,455,000 after purchasing an additional 1,272,853 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Ally Financial during the third quarter valued at $21,571,000. Finally, 140 Summer Partners LP bought a new stake in shares of Ally Financial during the third quarter valued at about $19,140,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Trading Down 1.7 %

NYSE ALLY opened at $36.79 on Thursday. The firm’s 50 day moving average price is $37.08 and its two-hundred day moving average price is $36.33. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93. Ally Financial Inc. has a twelve month low of $31.95 and a twelve month high of $45.46. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.02 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. Ally Financial’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. Equities analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Friday, January 31st. Ally Financial’s dividend payout ratio (DPR) is 46.15%.

Analysts Set New Price Targets

ALLY has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Morgan Stanley boosted their target price on Ally Financial from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Wolfe Research lowered Ally Financial from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Truist Financial boosted their price objective on Ally Financial from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their target price on Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.53.

Insider Buying and Selling

In other news, CEO Michael George Rhodes purchased 25,634 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was bought at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the purchase, the chief executive officer now directly owns 25,634 shares of the company’s stock, valued at approximately $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Russell E. Hutchinson purchased 19,100 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average cost of $39.45 per share, with a total value of $753,495.00. Following the purchase, the chief financial officer now owns 202,845 shares in the company, valued at $8,002,235.25. This represents a 10.39 % increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by corporate insiders.

About Ally Financial

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.