American Century Companies Inc. Buys 531,269 Shares of Ally Financial Inc. $ALLY

American Century Companies Inc. boosted its stake in Ally Financial Inc. (NYSE:ALLY) by 30.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,251,925 shares of the financial services provider’s stock after purchasing an additional 531,269 shares during the quarter. American Century Companies Inc. owned about 0.73% of Ally Financial worth $88,276,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ALLY. Argent Trust Co increased its holdings in Ally Financial by 7.0% in the 3rd quarter. Argent Trust Co now owns 14,252 shares of the financial services provider’s stock valued at $559,000 after buying an additional 929 shares during the period. Choreo LLC boosted its position in shares of Ally Financial by 22.7% during the 3rd quarter. Choreo LLC now owns 8,005 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 1,481 shares in the last quarter. Compound Planning Inc. boosted its position in shares of Ally Financial by 11.4% during the 3rd quarter. Compound Planning Inc. now owns 6,665 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 680 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in Ally Financial by 9.6% in the third quarter. Legacy Financial Advisors Inc. now owns 20,629 shares of the financial services provider’s stock valued at $809,000 after acquiring an additional 1,809 shares during the last quarter. Finally, Barnett & Company Inc. increased its stake in Ally Financial by 1.7% in the third quarter. Barnett & Company Inc. now owns 45,075 shares of the financial services provider’s stock valued at $1,767,000 after acquiring an additional 775 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALLY shares. Deutsche Bank Aktiengesellschaft raised their target price on Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Morgan Stanley set a $53.00 target price on shares of Ally Financial and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. TD Cowen reaffirmed a “buy” rating on shares of Ally Financial in a research note on Thursday, January 8th. Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Wells Fargo & Company upgraded shares of Ally Financial from a “hold” rating to an “overweight” rating in a report on Wednesday, December 17th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ally Financial presently has an average rating of “Moderate Buy” and an average target price of $50.31.

Ally Financial Stock Up 0.2%

ALLY stock opened at $39.84 on Wednesday. The company has a market cap of $12.31 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 0.20 and a beta of 1.18. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $47.27. The stock’s 50 day simple moving average is $43.05 and its 200 day simple moving average is $41.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the business earned $0.78 EPS. Ally Financial’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, research analysts expect 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 Tuesday, February 17th. Investors of record on Monday, February 2nd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. Ally Financial’s payout ratio is presently 51.06%.

Ally Financial announced that its board has initiated a share buyback program on Wednesday, December 10th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 15.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Ally Financial news, CEO Michael George Rhodes bought 23,800 shares of Ally Financial stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $41.68 per share, with a total value of $991,984.00. Following the completion of the acquisition, the chief executive officer directly owned 49,434 shares in the company, valued at approximately $2,060,409.12. The trade was a 92.85% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Russell E. Hutchinson acquired 11,566 shares of Ally Financial stock in a transaction on Tuesday, January 27th. The stock was acquired at an average price of $43.17 per share, with a total value of $499,304.22. Following the purchase, the chief financial officer directly owned 225,336 shares in the company, valued at approximately $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.56% of the stock is owned by insiders.

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.