State of Alaska Department of Revenue Has $1.13 Million Holdings in Ally Financial Inc. (NYSE:ALLY)

State of Alaska Department of Revenue cut its holdings in Ally Financial Inc. (NYSE:ALLY) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,270 shares of the financial services provider’s stock after selling 640 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ally Financial were worth $1,126,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ALLY. Assenagon Asset Management S.A. boosted its stake in Ally Financial by 233.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock valued at $87,509,000 after buying an additional 1,701,264 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Ally Financial by 217.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock valued at $81,260,000 after buying an additional 1,563,008 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Ally Financial in the third quarter valued at about $21,571,000. 140 Summer Partners LP acquired a new stake in Ally Financial in the third quarter valued at about $19,140,000. Finally, Franklin Resources Inc. boosted its stake in Ally Financial by 184.7% in the third quarter. Franklin Resources Inc. now owns 532,090 shares of the financial services provider’s stock valued at $19,044,000 after buying an additional 345,210 shares in the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Trading Down 2.0 %

NYSE ALLY opened at $37.25 on Thursday. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 0.43 and a beta of 1.45. Ally Financial Inc. has a 52 week low of $31.95 and a 52 week high of $45.46. The business has a 50 day moving average price of $37.17 and a 200-day moving average price of $37.53. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.51.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.57 by $0.21. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.02 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, equities analysts expect that Ally Financial Inc. will post 3.69 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.22%. Ally Financial’s dividend payout ratio is 46.15%.

Insider Activity at Ally Financial

In related news, CEO Michael George Rhodes bought 25,634 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average price of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the transaction, the chief executive officer now directly owns 25,634 shares in the company, valued at approximately $1,002,033.06. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Russell E. Hutchinson bought 19,100 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were bought at an average cost of $39.45 per share, for a total transaction of $753,495.00. Following the transaction, the chief financial officer now owns 202,845 shares of the company’s stock, valued at $8,002,235.25. The trade was a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ALLY shares. The Goldman Sachs Group lifted their price target on Ally Financial from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wolfe Research lowered Ally Financial from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Royal Bank of Canada lifted their price target on Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Truist Financial raised their price objective on Ally Financial from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Citigroup raised their price objective on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.76.

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.