Wells Fargo & Company MN Has $16.24 Million Holdings in Ally Financial Inc. (NYSE:ALLY)

Wells Fargo & Company MN increased its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 14.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 450,896 shares of the financial services provider’s stock after acquiring an additional 56,670 shares during the period. Wells Fargo & Company MN owned 0.15% of Ally Financial worth $16,237,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. MML Investors Services LLC lifted its position in Ally Financial by 8.5% during the 3rd quarter. MML Investors Services LLC now owns 14,870 shares of the financial services provider’s stock worth $529,000 after acquiring an additional 1,167 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Ally Financial by 31.3% during the 3rd quarter. Toronto Dominion Bank now owns 34,495 shares of the financial services provider’s stock worth $1,228,000 after purchasing an additional 8,217 shares during the last quarter. Virtu Financial LLC bought a new stake in Ally Financial during the 3rd quarter valued at approximately $450,000. Sanctuary Advisors LLC grew its holdings in Ally Financial by 26.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 22,516 shares of the financial services provider’s stock valued at $852,000 after buying an additional 4,663 shares during the last quarter. Finally, Tidal Investments LLC increased its position in Ally Financial by 5.8% in the 3rd quarter. Tidal Investments LLC now owns 25,999 shares of the financial services provider’s stock worth $925,000 after buying an additional 1,416 shares during the period. 88.76% of the stock is owned by institutional investors.

Ally Financial Price Performance

Shares of Ally Financial stock opened at $32.22 on Tuesday. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 0.32 and a beta of 1.12. The firm’s 50-day moving average price is $35.63 and its two-hundred day moving average price is $36.28. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $45.46.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. On average, equities analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, January 31st. Ally Financial’s payout ratio is presently 46.15%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

ALLY has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada raised their price target on shares of Ally Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Truist Financial cut their price objective on shares of Ally Financial from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Compass Point raised Ally Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $41.00 in a research report on Monday, April 7th. Finally, BTIG Research cut Ally Financial from a “neutral” rating to a “sell” rating and set a $30.00 price target for the company. in a report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.41.

Ally Financial Company Profile

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.