Retirement Systems of Alabama Boosts Position in Ally Financial Inc. (NYSE:ALLY)

Retirement Systems of Alabama grew its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 333,457 shares of the financial services provider’s stock after purchasing an additional 364 shares during the quarter. Retirement Systems of Alabama’s holdings in Ally Financial were worth $12,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Venturi Wealth Management LLC raised its stake in Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 577 shares in the last quarter. Allworth Financial LP lifted its stake in Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after buying an additional 421 shares during the last quarter. UMB Bank n.a. grew its position in shares of Ally Financial by 218.8% during the fourth quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,061 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Ally Financial in the 3rd quarter valued at $63,000. Finally, Rakuten Securities Inc. raised its position in Ally Financial by 65,375.0% in the 3rd quarter. Rakuten Securities Inc. now owns 2,619 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 2,615 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Insider Activity at Ally Financial

In other news, CEO Michael George Rhodes bought 25,634 shares of Ally Financial stock in a transaction on Monday, January 27th. The shares were bought at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the acquisition, the chief executive officer now owns 25,634 shares in the company, valued at approximately $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Russell E. Hutchinson purchased 19,100 shares of the stock in a transaction dated Friday, January 24th. The shares were purchased at an average price of $39.45 per share, with a total value of $753,495.00. Following the completion of the acquisition, the chief financial officer now owns 202,845 shares of the company’s stock, valued at approximately $8,002,235.25. This represents a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is owned by corporate insiders.

Ally Financial Stock Up 0.1 %

ALLY opened at $38.29 on Friday. Ally Financial Inc. has a one year low of $31.95 and a one year high of $45.46. The company has a market cap of $11.67 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.43 and a beta of 1.45. The business’s fifty day moving average is $37.25 and its two-hundred day moving average is $37.70. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 EPS. Analysts anticipate that Ally Financial Inc. will post 3.7 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.30 per share. The ex-dividend date is Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.13%. Ally Financial’s dividend payout ratio is currently 46.15%.

Analysts Set New Price Targets

Several brokerages have issued reports on ALLY. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price target on Ally Financial from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their target price on Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Morgan Stanley boosted their target price on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada lifted their price objective on shares of Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $43.76.

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.