Cibc World Markets Corp Reduces Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Cibc World Markets Corp trimmed its position in Ally Financial Inc. (NYSE:ALLY) by 22.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,409 shares of the financial services provider’s stock after selling 3,533 shares during the period. Cibc World Markets Corp’s holdings in Ally Financial were worth $447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Principal Securities Inc. lifted its position in shares of Ally Financial by 89.4% during the 4th quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock valued at $38,000 after buying an additional 496 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Ally Financial during the 4th quarter valued at about $43,000. UMB Bank n.a. lifted its position in shares of Ally Financial by 218.8% during the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,061 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Ally Financial during the 3rd quarter valued at about $63,000. Finally, Harbour Investments Inc. lifted its position in shares of Ally Financial by 38.5% during the 4th quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider’s stock valued at $77,000 after buying an additional 595 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALLY. JPMorgan Chase & Co. lifted their price objective on Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on Ally Financial from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Thursday, January 23rd. Truist Financial lifted their target price on Ally Financial from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods lifted their target price on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Morgan Stanley lifted their target price on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.76.

Ally Financial Stock Performance

NYSE:ALLY opened at $36.50 on Monday. The company has a market cap of $11.21 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.32 and a beta of 1.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50 day simple moving average is $36.99 and its two-hundred day simple moving average is $36.37. Ally Financial Inc. has a 1 year low of $31.95 and a 1 year high of $45.46.

Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.21. The firm had revenue of $2.09 billion for 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 revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, equities analysts anticipate 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, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, January 31st. Ally Financial’s dividend payout ratio is currently 46.15%.

Insider Activity

In other Ally Financial news, CEO Michael George Rhodes acquired 25,634 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 25,634 shares of the company’s stock, valued at $1,002,033.06. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Russell E. Hutchinson acquired 19,100 shares of the business’s stock in a transaction on Friday, January 24th. The stock was acquired 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 directly owns 202,845 shares in the company, 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. Corporate insiders own 0.67% of the company’s stock.

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.