Envestnet Asset Management Inc. Lowers Position in Ally Financial Inc. (NYSE:ALLY)

Envestnet Asset Management Inc. trimmed its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,365 shares of the financial services provider’s stock after selling 6,706 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ally Financial were worth $3,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Ally Financial in the third quarter valued at approximately $450,000. Tidal Investments LLC raised its position in shares of Ally Financial by 5.8% during the 3rd quarter. Tidal Investments LLC now owns 25,999 shares of the financial services provider’s stock valued at $925,000 after buying an additional 1,416 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ally Financial by 184.7% during the 3rd quarter. Franklin Resources Inc. now owns 532,090 shares of the financial services provider’s stock worth $19,044,000 after acquiring an additional 345,210 shares during the last quarter. Everence Capital Management Inc. bought a new position in Ally Financial in the fourth quarter valued at $297,000. Finally, Oak Thistle LLC purchased a new stake in Ally Financial during the fourth quarter valued at about $1,112,000. 88.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALLY. The Goldman Sachs Group upped their price objective on Ally Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. BTIG Research cut shares of Ally Financial from a “neutral” rating to a “sell” rating and set a $30.00 price target on the stock. in a research report on Tuesday, March 25th. Bank of America decreased their price target on shares of Ally Financial from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Truist Financial cut their price objective on shares of Ally Financial from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Compass Point upgraded shares of Ally Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $41.00 in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.69.

Insider Activity

In related news, CFO Russell E. Hutchinson purchased 19,100 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were purchased at an average cost of $39.45 per share, with a total value of $753,495.00. Following the transaction, the chief financial officer now directly owns 202,845 shares in the company, valued at $8,002,235.25. This trade represents a 10.39 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael George Rhodes acquired 25,634 shares of Ally Financial stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the transaction, the chief executive officer now owns 25,634 shares in the company, valued at $1,002,033.06. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 52,934 shares of company stock worth $2,008,170. Corporate insiders own 0.67% of the company’s stock.

Ally Financial Stock Up 2.2 %

Shares of NYSE ALLY opened at $32.11 on Thursday. The firm has a fifty day simple moving average of $34.75 and a two-hundred day simple moving average of $36.10. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $45.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $9.86 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.15. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $2.04 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. During the same period in the prior year, the firm earned $0.45 earnings per share. Equities analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.20 annualized dividend and a yield of 3.74%. Ally Financial’s payout ratio is 88.24%.

About Ally Financial

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.