Ally Financial Inc. (NYSE:ALLY) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,103 shares of the financial services provider’s stock after acquiring an additional 460 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Ally Financial worth $6,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Copia Wealth Management purchased a new position in Ally Financial during the first quarter worth about $27,000. Private Trust Co. NA raised its stake in shares of Ally Financial by 125.7% in the 1st quarter. Private Trust Co. NA now owns 914 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 509 shares during the period. Bessemer Group Inc. raised its stake in shares of Ally Financial by 59.6% in the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 377 shares during the period. Harbour Investments Inc. raised its stake in shares of Ally Financial by 38.5% in the 4th quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 595 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Ally Financial in the 4th quarter valued at approximately $78,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Stock Down 0.9%

ALLY stock opened at $39.88 on Monday. The company has a fifty day moving average price of $37.33 and a 200 day moving average price of $36.12. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 0.38 and a beta of 1.15. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $45.46.

Ally Financial (NYSE:ALLY) last posted its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.21. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $0.97 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.01%. Ally Financial’s dividend payout ratio (DPR) is presently 77.92%.

Analysts Set New Price Targets

Several research firms recently commented on ALLY. Wells Fargo & Company lowered their target price on Ally Financial from $34.00 to $32.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. Royal Bank Of Canada reissued an “outperform” rating on shares of Ally Financial in a research note on Monday, July 14th. Morgan Stanley reiterated an “overweight” rating and set a $47.00 price target (up previously from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. Compass Point upgraded shares of Ally Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $41.00 in a report on Monday, April 7th. Finally, Citigroup reiterated a “buy” rating and set a $59.00 price target (up previously from $55.00) on shares of Ally Financial in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.67.

Insider Activity at Ally Financial

In related news, CFO Russell E. Hutchinson bought 8,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were acquired at an average cost of $30.81 per share, with a total value of $252,642.00. Following the completion of the transaction, the chief financial officer owned 236,421 shares of the company’s stock, valued at approximately $7,284,131.01. The trade was a 3.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephanie N. Richard sold 8,000 shares of Ally Financial stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total transaction of $257,120.00. Following the transaction, the insider directly owned 90,387 shares in the company, valued at approximately $2,905,038.18. This trade represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

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.