SEB Asset Management AB Invests $3.40 Million in Ally Financial Inc. $ALLY

SEB Asset Management AB acquired a new stake in Ally Financial Inc. (NYSE:ALLYFree Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 86,695 shares of the financial services provider’s stock, valued at approximately $3,401,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ALLY. Wellington Management Group LLP lifted its position in Ally Financial by 19.5% in the fourth quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock valued at $646,347,000 after purchasing an additional 2,332,610 shares during the period. Dimensional Fund Advisors LP increased its position in Ally Financial by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,708,942 shares of the financial services provider’s stock worth $394,432,000 after purchasing an additional 295,048 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Ally Financial by 7.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,071,504 shares of the financial services provider’s stock worth $274,978,000 after purchasing an additional 444,756 shares during the period. Geode Capital Management LLC raised its stake in shares of Ally Financial by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider’s stock worth $243,795,000 after buying an additional 241,000 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Ally Financial by 0.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,867,023 shares of the financial services provider’s stock worth $175,137,000 after buying an additional 20,198 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Up 0.4%

ALLY opened at $44.63 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.93 and a current ratio of 0.92. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 0.25 and a beta of 1.09. Ally Financial Inc. has a one year low of $35.92 and a one year high of $47.29. The business’s fifty day moving average is $44.25 and its two-hundred day moving average is $42.63.

Ally Financial (NYSE:ALLYGet Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the firm earned $0.99 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts anticipate that Ally Financial Inc. will post 5.32 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, July 31st. Ally Financial’s dividend payout ratio (DPR) is 29.27%.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.14, for a total value of $210,700.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ALLY shares. Truist Financial set a $54.00 price target on Ally Financial in a research note on Tuesday, April 21st. The Goldman Sachs Group increased their price objective on Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. reduced their target price on Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Weiss Ratings raised shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Ally Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.86.

Read Our Latest Stock Report on Ally Financial

Key Stories Impacting Ally Financial

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About Ally Financial

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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