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

Retirement Systems of Alabama raised its position in Ally Financial Inc. (NYSE:ALLYFree Report) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,894 shares of the financial services provider’s stock after purchasing an additional 897 shares during the quarter. Retirement Systems of Alabama owned 0.11% of Ally Financial worth $13,837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its stake in shares of Ally Financial by 22.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 2,752,830 shares of the financial services provider’s stock worth $96,129,000 after acquiring an additional 495,584 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Ally Financial by 18.7% in the fourth quarter. Allianz Asset Management GmbH now owns 1,662,075 shares of the financial services provider’s stock worth $58,040,000 after acquiring an additional 261,897 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Ally Financial by 309.5% during the first quarter. Banque Cantonale Vaudoise now owns 99,315 shares of the financial services provider’s stock worth $4,031,000 after purchasing an additional 75,063 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Ally Financial by 17.1% during the fourth quarter. Victory Capital Management Inc. now owns 91,263 shares of the financial services provider’s stock worth $3,187,000 after purchasing an additional 13,352 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Ally Financial during the fourth quarter worth $62,869,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Trading Down 1.5 %

NYSE ALLY opened at $39.85 on Friday. The stock has a market capitalization of $12.11 billion, a P/E ratio of 16.27, a P/E/G ratio of 0.49 and a beta of 1.41. Ally Financial Inc. has a 52-week low of $22.54 and a 52-week high of $41.77. The firm has a 50-day moving average price of $39.36 and a 200 day moving average price of $37.65. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.50.

Ally Financial (NYSE:ALLYGet Free Report) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the firm earned $0.82 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts expect that Ally Financial Inc. will post 3.02 EPS for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.01%. Ally Financial’s payout ratio is 48.98%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALLY. Citigroup began coverage on shares of Ally Financial in a research note on Monday, June 24th. They set a “buy” rating and a $50.00 target price for the company. Evercore ISI boosted their target price on shares of Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. TD Cowen upped their price objective on shares of Ally Financial from $42.00 to $43.00 and gave the company a “hold” rating in a research note on Friday, April 19th. StockNews.com upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, BTIG Research started coverage on shares of Ally Financial in a research note on Friday, June 7th. They issued a “buy” rating and a $51.00 price objective for the company. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.18.

Get Our Latest Analysis on Ally Financial

Ally Financial Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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