First Trust Advisors LP Cuts Holdings in Ally Financial Inc. $ALLY

First Trust Advisors LP lowered its position in Ally Financial Inc. (NYSE:ALLY) by 35.2% in the first quarter, HoldingsChannel reports. The fund owned 530,356 shares of the financial services provider’s stock after selling 288,298 shares during the quarter. First Trust Advisors LP’s holdings in Ally Financial were worth $20,806,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. grew its position in shares of Ally Financial by 30.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 240 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in Ally Financial by 3.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 243 shares during the period. Brown Brothers Harriman & Co. raised its holdings in Ally Financial by 31.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,052 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 252 shares during the period. Triumph Capital Management grew its holdings in Ally Financial by 9.2% in the fourth quarter. Triumph Capital Management now owns 3,133 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 265 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Ally Financial by 25.0% in the fourth quarter. Larson Financial Group LLC now owns 1,340 shares of the financial services provider’s stock valued at $61,000 after buying an additional 268 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $42.14, for a total transaction of $210,700.00. Following the transaction, the insider directly owned 93,927 shares in the company, valued at $3,958,083.78. The trade was a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ALLY has been the subject of several research analyst reports. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Truist Financial set a $54.00 price target on shares of Ally Financial in a research note on Tuesday, April 21st. JPMorgan Chase & Co. cut their price target on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $58.00 price objective on shares of Ally Financial in a report on Wednesday, July 22nd. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Ally Financial presently has an average rating of “Moderate Buy” and an average price target of $53.86.

Ally Financial Stock Performance

NYSE:ALLY opened at $42.99 on Thursday. The company’s 50-day moving average price is $44.40 and its 200-day moving average price is $42.53. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market cap of $13.08 billion, a P/E ratio of 10.14, a P/E/G ratio of 0.27 and a beta of 1.09. Ally Financial Inc. has a twelve month low of $35.92 and a twelve month high of $47.29.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data 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 net margin of 16.75% and a return on equity of 11.75%. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the company posted $0.99 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders 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 dividend yield of 2.8%. The ex-dividend date is Friday, July 31st. Ally Financial’s payout ratio is currently 28.30%.

About Ally Financial

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.