PNC Financial Services Group Inc. Grows Holdings in Ally Financial Inc. $ALLY

PNC Financial Services Group Inc. grew its holdings in Ally Financial Inc. (NYSE:ALLY) by 166.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 66,595 shares of the financial services provider’s stock after acquiring an additional 41,574 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ally Financial were worth $3,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ally Financial in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. boosted its holdings in shares of Ally Financial by 43.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 904 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 276 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Ally Financial by 67.0% in the third quarter. Larson Financial Group LLC now owns 1,072 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 430 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Ally Financial by 98.7% in the third quarter. Smartleaf Asset Management LLC now owns 1,111 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 552 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Ally Financial by 53.5% in the third quarter. Allworth Financial LP now owns 1,154 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 402 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Evercore reiterated an “outperform” rating and issued a $54.00 price target on shares of Ally Financial in a report on Tuesday, April 21st. Barclays raised 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. Bank of America raised their target price on shares of Ally Financial from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Weiss Ratings raised shares of Ally Financial from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley raised their target price on shares of Ally Financial from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.14.

Insider Activity at Ally Financial

In other Ally Financial 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 value of $1,792,119.75. Following the completion of the transaction, the insider owned 477,627 shares in the company, valued at $21,574,411.59. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the transaction, the insider owned 93,927 shares of the company’s stock, valued at $3,958,083.78. This represents a 5.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.46% of the company’s stock.

Ally Financial Trading Up 0.8%

NYSE ALLY opened at $42.70 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. Ally Financial Inc. has a 52 week low of $33.81 and a 52 week high of $47.27. The stock has a market capitalization of $13.09 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 0.26 and a beta of 1.12. The firm has a 50 day moving average of $41.70 and a two-hundred day moving average of $41.96.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.93 by $0.18. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business posted $0.58 EPS. The firm’s revenue was up 36.4% on a year-over-year basis. As a group, research analysts expect that Ally Financial Inc. will post 5.3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, May 1st. Ally Financial’s payout ratio is 29.27%.

Ally Financial Company 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.