Ally Financial Inc. $ALLY Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in Ally Financial Inc. (NYSE:ALLY) by 2.8% in the second quarter, HoldingsChannel.com reports. The firm owned 137,484 shares of the financial services provider’s stock after selling 3,976 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ally Financial were worth $5,355,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALLY. Wellington Management Group LLP acquired a new stake in Ally Financial in the first quarter worth approximately $253,881,000. Millennium Management LLC lifted its position in shares of Ally Financial by 234.7% during the 1st quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider’s stock valued at $136,838,000 after acquiring an additional 2,630,981 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Ally Financial by 6,675.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,243,773 shares of the financial services provider’s stock valued at $48,445,000 after acquiring an additional 1,225,415 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Ally Financial by 173.2% during the 1st quarter. AQR Capital Management LLC now owns 1,377,717 shares of the financial services provider’s stock valued at $49,984,000 after acquiring an additional 873,380 shares during the last quarter. Finally, Amundi lifted its position in shares of Ally Financial by 53.9% during the 1st quarter. Amundi now owns 1,778,604 shares of the financial services provider’s stock valued at $64,866,000 after acquiring an additional 622,601 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Stock Performance

Shares of ALLY stock opened at $41.01 on Wednesday. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $44.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 24.70, a P/E/G ratio of 0.31 and a beta of 1.18. The stock’s fifty day simple moving average is $40.51 and its 200-day simple moving average is $37.59.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. Ally Financial had a return on equity of 9.96% and a net margin of 8.10%.The business had revenue of $2.06 billion for the quarter. On average, sell-side analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Ally Financial’s payout ratio is currently 72.29%.

Analyst Ratings Changes

A number of brokerages have recently commented on ALLY. Citigroup increased their price objective on Ally Financial from $59.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Wells Fargo & Company upgraded Ally Financial from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $37.00 to $45.00 in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. increased their price objective on Ally Financial from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial increased their price objective on Ally Financial from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ally Financial in a research report on Tuesday, October 14th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.67.

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.