abrdn plc Acquires 65,354 Shares of Ally Financial Inc. (NYSE:ALLY)

abrdn plc increased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 24.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 330,033 shares of the financial services provider’s stock after purchasing an additional 65,354 shares during the period. abrdn plc owned 0.11% of Ally Financial worth $11,525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AE Wealth Management LLC purchased a new stake in Ally Financial during the third quarter valued at approximately $368,000. SG Americas Securities LLC lifted its position in Ally Financial by 53.1% during the third quarter. SG Americas Securities LLC now owns 43,178 shares of the financial services provider’s stock valued at $1,152,000 after acquiring an additional 14,972 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Ally Financial during the third quarter valued at approximately $860,000. Denali Advisors LLC lifted its position in Ally Financial by 68.6% during the third quarter. Denali Advisors LLC now owns 1,897 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 772 shares during the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new stake in Ally Financial during the third quarter valued at approximately $454,000. 88.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALLY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ally Financial in a research report on Wednesday, January 10th. They set a “buy” rating and a $47.00 target price for the company. TheStreet raised shares of Ally Financial from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Ally Financial in a report on Thursday, February 1st. Evercore ISI raised their price target on shares of Ally Financial from $41.00 to $43.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Finally, Wells Fargo & Company raised their price target on shares of Ally Financial from $29.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.47.

Ally Financial Stock Down 1.5 %

ALLY stock opened at $39.15 on Friday. The stock has a market capitalization of $11.90 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.58 and a beta of 1.40. The firm has a 50-day simple moving average of $37.97 and a 200-day simple moving average of $33.32. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. Ally Financial Inc. has a 52 week low of $22.54 and a 52 week high of $41.56.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the company earned $0.82 EPS. Ally Financial’s revenue was down 5.4% compared to the same quarter last year. Equities analysts forecast that Ally Financial Inc. will post 2.95 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.20 annualized dividend and a yield of 3.07%. Ally Financial’s dividend payout ratio is presently 48.98%.

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.