Private Management Group Inc. Trims Holdings in Ally Financial Inc. $ALLY

Private Management Group Inc. decreased its position in shares of Ally Financial Inc. (NYSE:ALLY) by 24.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 315,899 shares of the financial services provider’s stock after selling 100,522 shares during the quarter. Private Management Group Inc.’s holdings in Ally Financial were worth $14,516,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Ally Financial in the 2nd quarter worth approximately $1,315,659,000. Berkshire Hathaway Inc acquired a new stake in Ally Financial during the 2nd quarter valued at approximately $1,240,650,000. Wellington Management Group LLP lifted its stake in Ally Financial by 19.5% during the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock valued at $646,347,000 after acquiring an additional 2,332,610 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ally Financial by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider’s stock valued at $353,776,000 after acquiring an additional 309,638 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Ally Financial by 11.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider’s stock valued at $266,134,000 after acquiring an additional 712,443 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Wall Street Zen downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Truist Financial cut their price target on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Royal Bank Of Canada lifted their price objective on Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Finally, Bank of America boosted their price objective on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.64.

Insider Activity

In other news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the sale, the insider directly owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This represents a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by insiders.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $42.20 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.26 and a beta of 1.10. The firm’s 50 day simple moving average is $44.52 and its 200-day simple moving average is $42.63. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29.

Ally Financial (NYSE:ALLY) last posted its 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 net margin of 16.75% and a return on equity of 11.75%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.30 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Ally Financial’s dividend payout ratio is 28.30%.

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.