Ritholtz Wealth Management Purchases Shares of 5,225 Ally Financial Inc. $ALLY

Ritholtz Wealth Management purchased a new stake in shares of Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 5,225 shares of the financial services provider’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ally Financial during the 1st quarter valued at $1,998,000. Teacher Retirement System of Texas acquired a new stake in shares of Ally Financial during the 1st quarter valued at $1,462,000. Bessemer Group Inc. lifted its position in shares of Ally Financial by 59.6% during the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 377 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Ally Financial by 40.6% during the 1st quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 952 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Ally Financial by 56.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider’s stock valued at $2,466,000 after acquiring an additional 24,372 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $41.01 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $44.83. The business has a fifty day simple moving average of $40.51 and a 200 day simple moving average of $37.59. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 24.70, a P/E/G ratio of 0.31 and a beta of 1.18.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter. Ally Financial had a return on equity of 9.96% and a net margin of 8.10%.The business had revenue of $2.06 billion during the quarter. As a group, sell-side analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, October 31st. Ally Financial’s dividend payout ratio (DPR) is currently 72.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ALLY shares. Truist Financial increased their price objective on Ally Financial from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI reduced their target price on Ally Financial from $45.00 to $44.00 and set an “in-line” rating for the company in a report on Tuesday, September 30th. Wells Fargo & Company upgraded Ally Financial from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $37.00 to $45.00 in a report on Tuesday, September 2nd. TD Cowen upgraded Ally Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $43.00 to $50.00 in a report on Monday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ally Financial in a report on Tuesday, October 14th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.67.

Ally Financial 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.