Citigroup Inc. Buys 51,026 Shares of Ally Financial Inc. (NYSE:ALLY)

Citigroup Inc. increased its stake in Ally Financial Inc. (NYSE:ALLY – Get Rating) by 23.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,356 shares of the financial services provider’s stock after acquiring an additional 51,026 shares during the quarter. Citigroup Inc. owned 0.09% of Ally Financial worth $6,586,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ALLY. Roundview Capital LLC bought a new stake in shares of Ally Financial in the 1st quarter valued at $242,000. Cetera Advisor Networks LLC bought a new stake in Ally Financial during the 1st quarter valued at $214,000. D.A. Davidson & CO. bought a new stake in Ally Financial during the 1st quarter valued at $261,000. MetLife Investment Management LLC bought a new stake in Ally Financial during the 1st quarter valued at $294,000. Finally, Rhumbline Advisers increased its stake in Ally Financial by 1.4% during the 1st quarter. Rhumbline Advisers now owns 291,312 shares of the financial services provider’s stock valued at $12,666,000 after purchasing an additional 4,099 shares in the last quarter. Institutional investors own 90.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALLY. Piper Sandler boosted their price target on shares of Ally Financial from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, April 20th. TheStreet raised shares of Ally Financial from a “c” rating to a “b-” rating in a report on Thursday, February 2nd. JPMorgan Chase & Co. cut their price objective on shares of Ally Financial from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, April 17th. StockNews.com began coverage on shares of Ally Financial in a report on Thursday. They set a “hold” rating on the stock. Finally, Morgan Stanley cut their price objective on shares of Ally Financial from $25.00 to $22.00 and set an “underweight” rating on the stock in a report on Wednesday, April 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $34.87.

Ally Financial Price Performance

NYSE ALLY opened at $26.43 on Friday. The company has a market cap of $7.95 billion, a PE ratio of 6.49 and a beta of 1.34. Ally Financial Inc. has a 52 week low of $21.58 and a 52 week high of $44.33. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.85. The firm’s 50-day simple moving average is $25.38 and its two-hundred day simple moving average is $27.05.

Ally Financial (NYSE:ALLY – Get Rating) last released its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.06). Ally Financial had a net margin of 16.42% and a return on equity of 14.79%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company earned $2.03 earnings per share. Ally Financial’s revenue for the quarter was down 4.1% compared to the same quarter last year. Research analysts predict that Ally Financial Inc. will post 3.51 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Friday, April 28th. Ally Financial’s dividend payout ratio is presently 29.48%.

About Ally Financial

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Ally Financial, Inc engages in the provision of online banking, securities brokerage, and investment advisory services. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, Corporate Finance Operations, and Corporate and Other. The Automotive Finance Operations segment offers retail installment sales contracts, loans, and operating leases, offering term loans to dealers, financing dealer floor plans and other lines of credit to dealers, warehouse lines to automotive retailers, fleet financing, providing financing to companies and municipalities for the purchase or lease of vehicles, and vehicle-remarketing services.