7,920 Shares in Ally Financial Inc. (NYSE:ALLY) Bought by Allstate Corp

Allstate Corp bought a new stake in Ally Financial Inc. (NYSE:ALLY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,920 shares of the financial services provider’s stock, valued at approximately $285,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALLY. Principal Securities Inc. lifted its stake in shares of Ally Financial by 89.4% in the 4th quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 496 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Ally Financial during the fourth quarter valued at approximately $43,000. UMB Bank n.a. grew its stake in Ally Financial by 218.8% during the fourth quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock worth $56,000 after buying an additional 1,061 shares during the period. Harbour Investments Inc. increased its position in shares of Ally Financial by 38.5% in the fourth quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 595 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new position in shares of Ally Financial in the 4th quarter valued at $85,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALLY has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their target price on Ally Financial from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Thursday, January 23rd. Morgan Stanley boosted their price target on Ally Financial from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Truist Financial increased their price objective on shares of Ally Financial from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Wolfe Research cut shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Ally Financial has an average rating of “Hold” and an average price target of $42.65.

Ally Financial Trading Up 1.0 %

NYSE:ALLY opened at $37.07 on Thursday. The company has a market cap of $11.39 billion, a PE ratio of 14.26, a P/E/G ratio of 0.32 and a beta of 1.40. The business’s 50 day moving average is $37.00 and its two-hundred day moving average is $36.43. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.51. Ally Financial Inc. has a 52 week low of $31.95 and a 52 week high of $45.46.

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

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.24%. The ex-dividend date was Friday, January 31st. Ally Financial’s dividend payout ratio is presently 46.15%.

Insider Buying and Selling at Ally Financial

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

Ally Financial Company 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.