Teacher Retirement System of Texas Has $1.85 Million Holdings in Ally Financial Inc. $ALLY

Teacher Retirement System of Texas grew its stake in Ally Financial Inc. (NYSE:ALLY) by 18.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,507 shares of the financial services provider’s stock after purchasing an additional 7,414 shares during the period. Teacher Retirement System of Texas’ holdings in Ally Financial were worth $1,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in Ally Financial during the 1st quarter valued at about $1,998,000. Cerity Partners LLC grew its position in shares of Ally Financial by 51.1% during the 1st quarter. Cerity Partners LLC now owns 27,813 shares of the financial services provider’s stock worth $1,014,000 after buying an additional 9,402 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Ally Financial by 19.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,029 shares of the financial services provider’s stock worth $274,000 after buying an additional 1,163 shares during the period. 111 Capital acquired a new position in Ally Financial during the second quarter valued at approximately $490,000. Finally, Davis Investment Partners LLC acquired a new position in Ally Financial during the second quarter valued at approximately $243,000. 88.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Kathleen L. Patterson sold 29,000 shares of Ally Financial stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total value of $1,184,940.00. Following the completion of the sale, the insider owned 100,203 shares of the company’s stock, valued at approximately $4,094,294.58. This trade represents a 22.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ALLY shares. Truist Financial boosted their price objective on shares of Ally Financial from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods decreased their price objective on shares of Ally Financial from $56.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Wells Fargo & Company upgraded shares of Ally Financial from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $37.00 to $45.00 in a research note on Tuesday, September 2nd. BTIG Research raised shares of Ally Financial from a “sell” rating to a “neutral” rating in a research report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of Ally Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.67.

Ally Financial Stock Performance

NYSE ALLY opened at $39.38 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31. The company has a fifty day simple moving average of $40.75 and a 200 day simple moving average of $38.20. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $44.83. The company has a market cap of $12.13 billion, a P/E ratio of 23.72, a PEG ratio of 0.29 and a beta of 1.21.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. Ally Financial had a return on equity of 9.96% and a net margin of 8.10%.The business had revenue of $2.06 billion for the quarter. Sell-side analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, October 31st. Ally Financial’s payout ratio is presently 72.29%.

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.