Oak Thistle LLC Has $2.87 Million Stock Holdings in Ally Financial Inc. $ALLY

Oak Thistle LLC raised its stake in Ally Financial Inc. (NYSE:ALLY) by 273.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,320 shares of the financial services provider’s stock after buying an additional 53,709 shares during the period. Oak Thistle LLC’s holdings in Ally Financial were worth $2,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALLY. Townsquare Capital LLC bought a new position in shares of Ally Financial in the 1st quarter valued at $273,000. HighTower Advisors LLC increased its holdings in Ally Financial by 17.8% in the 1st quarter. HighTower Advisors LLC now owns 69,147 shares of the financial services provider’s stock worth $2,522,000 after purchasing an additional 10,444 shares in the last quarter. Ethic Inc. increased its holdings in Ally Financial by 2.5% in the 1st quarter. Ethic Inc. now owns 21,186 shares of the financial services provider’s stock worth $777,000 after purchasing an additional 518 shares in the last quarter. American Century Companies Inc. raised its position in Ally Financial by 15.5% in the first quarter. American Century Companies Inc. now owns 580,953 shares of the financial services provider’s stock valued at $21,187,000 after purchasing an additional 78,028 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in shares of Ally Financial during the first quarter valued at about $613,000. Institutional investors own 88.76% of the company’s stock.

Insider Activity

In related news, insider Kathleen L. Patterson sold 29,000 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total transaction of $1,184,940.00. Following the sale, the insider owned 100,203 shares in the company, valued at $4,094,294.58. This represents a 22.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by corporate insiders.

Ally Financial Stock Down 1.2%

Shares of NYSE ALLY opened at $44.30 on Wednesday. The company’s 50 day moving average price is $40.46 and its 200-day moving average price is $39.73. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $46.24. The company has a market capitalization of $13.65 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 0.31 and a beta of 1.22.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. The company had revenue of $2.06 billion during the quarter. Equities analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 10th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 15.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. Ally Financial’s dividend payout ratio (DPR) is 72.29%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ALLY. Truist Financial upped their price objective on Ally Financial from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Cowen raised shares of Ally Financial from a “hold” rating to a “buy” rating in a report on Monday, October 20th. Morgan Stanley set a $53.00 price target on shares of Ally Financial and gave the company an “overweight” rating in a research note on Tuesday. Evercore ISI cut their price target on shares of Ally Financial from $45.00 to $44.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. Finally, Wells Fargo & Company raised shares of Ally Financial from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $37.00 to $45.00 in a research note on Tuesday, September 2nd. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Ally Financial currently has an average rating of “Moderate Buy” and an average price target of $45.73.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.