Sumitomo Mitsui Trust Group Inc. Lowers Stake in Ally Financial Inc. $ALLY

Sumitomo Mitsui Trust Group Inc. cut its stake in Ally Financial Inc. (NYSE:ALLY) by 48.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,168 shares of the financial services provider’s stock after selling 39,209 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Ally Financial were worth $1,653,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Ally Financial in the second quarter worth about $95,897,000. Charles Schwab Investment Management Inc. boosted its holdings in Ally Financial by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,384,980 shares of the financial services provider’s stock valued at $92,895,000 after acquiring an additional 72,444 shares during the period. Sequoia Financial Advisors LLC grew its position in 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 acquiring an additional 1,163 shares during the last quarter. Acadian Asset Management LLC increased its stake in Ally Financial by 535.4% in the 2nd quarter. Acadian Asset Management LLC now owns 933,988 shares of the financial services provider’s stock worth $36,372,000 after purchasing an additional 786,985 shares during the period. Finally, 111 Capital purchased a new position in Ally Financial in the 2nd quarter worth approximately $490,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Insider Buying and Selling at Ally Financial

In other news, insider Kathleen L. Patterson sold 29,000 shares of the 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 transaction, the insider owned 100,203 shares of the company’s stock, valued at approximately $4,094,294.58. This represents a 22.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. TD Cowen increased their price objective on Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Barclays increased their price target on shares of Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Truist Financial raised their price target on shares of Ally Financial from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Ally Financial from $56.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Ally Financial in a report on Monday, January 12th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Ally Financial presently has an average rating of “Moderate Buy” and an average price target of $49.44.

Ally Financial Stock Down 0.1%

Shares of NYSE ALLY opened at $43.60 on Monday. The firm has a fifty day simple moving average of $43.12 and a two-hundred day simple moving average of $41.07. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $47.27. 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 firm has a market capitalization of $13.43 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 0.21 and a beta of 1.17.

Ally Financial (NYSE:ALLY) last announced its earnings results on Friday, October 17th. The financial services provider reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 10th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 15.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Ally Financial Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.