Strs Ohio Sells 35,603 Shares of Ally Financial Inc. $ALLY

Strs Ohio decreased its stake in Ally Financial Inc. (NYSE:ALLY) by 84.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,598 shares of the financial services provider’s stock after selling 35,603 shares during the period. Strs Ohio’s holdings in Ally Financial were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ALLY. Allworth Financial LP boosted its holdings in Ally Financial by 385.2% in the second quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 597 shares during the last quarter. Mather Group LLC. bought a new position in Ally Financial during the 3rd quarter worth approximately $31,000. Hantz Financial Services Inc. lifted its position in shares of Ally Financial by 662.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 715 shares during the period. Westside Investment Management Inc. boosted its stake in shares of Ally Financial by 116.8% in the 2nd quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 451 shares during the last quarter. Finally, MAI Capital Management increased its position in shares of Ally Financial by 45.1% during the second quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock worth $38,000 after buying an additional 303 shares during the period. 88.76% of the stock is currently owned by institutional investors.

Insider Activity

In other Ally Financial news, CEO Michael George Rhodes bought 23,800 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $41.68 per share, with a total value of $991,984.00. Following the completion of the transaction, the chief executive officer directly owned 49,434 shares in the company, valued at approximately $2,060,409.12. The trade was a 92.85% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Russell E. Hutchinson purchased 11,566 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was acquired at an average cost of $43.17 per share, for a total transaction of $499,304.22. Following the transaction, the chief financial officer owned 225,336 shares in the company, valued at $9,727,755.12. This represents a 5.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Wells Fargo & Company raised Ally Financial from a “hold” rating to an “overweight” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price objective on shares of Ally Financial in a research note on Tuesday, January 6th. JPMorgan Chase & Co. raised their target price on Ally Financial from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Finally, Evercore ISI upgraded Ally Financial from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $48.00 to $53.00 in a report on Tuesday, January 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.44.

Ally Financial Trading Down 1.7%

NYSE ALLY opened at $42.21 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $47.27. The business has a 50 day moving average price of $43.86 and a 200-day moving average price of $41.22. The company has a market cap of $13.00 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 0.21 and a beta of 1.19.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. Ally Financial’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. As a group, equities analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

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

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, February 2nd. Ally Financial’s dividend payout ratio (DPR) is currently 51.06%.

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.