Sequoia Financial Advisors LLC Has $985,000 Stock Holdings in Ally Financial Inc. $ALLY

Sequoia Financial Advisors LLC lifted its stake in Ally Financial Inc. (NYSE:ALLY) by 165.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,753 shares of the financial services provider’s stock after acquiring an additional 13,569 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Ally Financial were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ALLY. Wellington Management Group LLP boosted its holdings in Ally Financial by 19.6% in the third quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock worth $467,996,000 after purchasing an additional 1,958,201 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Ally Financial by 8,255.7% in the third quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock worth $48,231,000 after purchasing an additional 1,215,659 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new stake in Ally Financial in the third quarter worth $45,733,000. Bank of America Corp DE boosted its holdings in Ally Financial by 38.9% in the second quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock worth $146,888,000 after purchasing an additional 1,056,060 shares in the last quarter. Finally, Goldentree Asset Management LP bought a new stake in Ally Financial in the third quarter worth $38,155,000. 88.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALLY. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Ally Financial from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Truist Financial set a $54.00 price objective on shares of Ally Financial in a report on Tuesday, April 21st. Morgan Stanley upped their price objective on shares of Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Weiss Ratings upgraded shares of Ally Financial from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, Evercore reiterated an “outperform” rating and issued a $54.00 price objective on shares of Ally Financial in a report on Tuesday, April 21st. Fourteen equities 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 stock has an average rating of “Moderate Buy” and an average price target of $54.14.

Ally Financial Stock Down 2.7%

Shares of ALLY opened at $41.69 on Thursday. The company has a 50-day simple moving average of $40.98 and a 200-day simple moving average of $41.83. The firm has a market capitalization of $12.78 billion, a P/E ratio of 10.17, a P/E/G ratio of 0.26 and a beta of 1.12. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.93. Ally Financial Inc. has a 52 week low of $32.50 and a 52 week high of $47.27.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, beating 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 firm’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. On average, equities research analysts expect that Ally Financial Inc. will post 5.3 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Ally Financial’s dividend payout ratio is currently 29.27%.

Insider Activity at Ally Financial

In other news, insider Douglas R. Timmerman sold 39,675 shares of the company’s stock in a transaction dated 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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Ally Financial Profile

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.