Franklin Resources Inc. Grows Stock Position in Ally Financial Inc. $ALLY

Franklin Resources Inc. grew its stake in Ally Financial Inc. (NYSE:ALLY) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 299,919 shares of the financial services provider’s stock after buying an additional 17,245 shares during the quarter. Franklin Resources Inc. owned 0.10% of Ally Financial worth $11,682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WPG Advisers LLC acquired a new position in Ally Financial in the first quarter valued at approximately $25,000. SVB Wealth LLC purchased a new stake in Ally Financial during the first quarter worth $27,000. Allworth Financial LP boosted its holdings in Ally Financial by 385.2% during the second quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock worth $29,000 after buying an additional 597 shares in the last quarter. Hantz Financial Services Inc. grew its position in Ally Financial by 662.0% during the second quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock valued at $32,000 after buying an additional 715 shares during the period. Finally, Westside Investment Management Inc. increased its holdings in Ally Financial by 116.8% in the second quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider’s stock valued at $34,000 after buying an additional 451 shares in the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their target price on shares of Ally Financial from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Cowen raised Ally Financial from a “hold” rating to a “buy” rating in a report on Monday, October 20th. Citigroup upped their target price on Ally Financial from $59.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Wells Fargo & Company upgraded Ally Financial from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $37.00 to $45.00 in a research report on Tuesday, September 2nd. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Ally Financial from $56.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Ally Financial presently has an average rating of “Moderate Buy” and an average target price of $45.67.

Ally Financial Trading Up 0.4%

Shares of ALLY opened at $41.30 on Friday. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $44.83. The stock has a market cap of $12.72 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 0.28 and a beta of 1.21. The firm’s fifty day moving average is $39.78 and its two-hundred day moving average is $39.00. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.31.

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

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, October 31st. Ally Financial’s payout ratio is currently 72.29%.

Insider Activity

In other news, insider Kathleen L. Patterson sold 29,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 100,203 shares in the company, valued at $4,094,294.58. This represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.67% of the stock is owned by company insiders.

Ally Financial 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.