California Public Employees Retirement System Acquires 27,233 Shares of Ally Financial Inc. $ALLY

California Public Employees Retirement System lifted its holdings in shares of Ally Financial Inc. (NYSE:ALLYFree Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 512,887 shares of the financial services provider’s stock after buying an additional 27,233 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Ally Financial worth $20,121,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ally Financial during the 4th quarter valued at about $29,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Ally Financial during the fourth quarter valued at approximately $35,000. Safe Harbor Fiduciary LLC bought a new position in Ally Financial during the fourth quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd purchased a new stake in Ally Financial in the fourth quarter worth approximately $38,000. Finally, SJS Investment Consulting Inc. boosted its holdings in Ally Financial by 30.8% in the first quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 240 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors.

Key Stories Impacting Ally Financial

Here are the key news stories impacting Ally Financial this week:

Ally Financial Trading Up 0.4%

Shares of Ally Financial stock opened at $44.63 on Thursday. The company’s fifty day simple moving average is $44.25 and its 200-day simple moving average is $42.63. The stock has a market capitalization of $13.68 billion, a PE ratio of 10.53, a P/E/G ratio of 0.25 and a beta of 1.09. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.93.

Ally Financial (NYSE:ALLYGet Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.Ally Financial’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, equities analysts anticipate that Ally Financial Inc. will post 5.32 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.30 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. Ally Financial’s dividend payout ratio is presently 29.27%.

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of research reports. Bank of America boosted their target price on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Truist Financial set a $54.00 price objective on Ally Financial in a report on Tuesday, April 21st. Wall Street Zen cut Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Barclays increased their target price on Ally Financial from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Finally, Evercore reissued an “outperform” rating and issued a $54.00 target price on shares of Ally Financial in a research report on Tuesday, April 21st. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ally Financial currently has an average rating of “Moderate Buy” and an average price target of $53.86.

Get Our Latest Report on ALLY

Insider Activity at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the transaction, the insider owned 93,927 shares of the company’s stock, valued at $3,958,083.78. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Ally Financial Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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