Swiss National Bank Sells 246,100 Shares of Ally Financial Inc. $ALLY

Swiss National Bank lowered its position in shares of Ally Financial Inc. (NYSE:ALLY) by 31.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 527,320 shares of the financial services provider’s stock after selling 246,100 shares during the period. Swiss National Bank owned approximately 0.17% of Ally Financial worth $20,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ALLY. Catalyst Funds Management Pty Ltd boosted its stake in Ally Financial by 101.8% during the 2nd quarter. Catalyst Funds Management Pty Ltd now owns 30,270 shares of the financial services provider’s stock valued at $1,179,000 after purchasing an additional 15,270 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Ally Financial in the second quarter worth $891,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Ally Financial by 8.1% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 71,030 shares of the financial services provider’s stock valued at $2,767,000 after purchasing an additional 5,330 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Ally Financial by 5.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 105,125 shares of the financial services provider’s stock valued at $4,095,000 after buying an additional 5,764 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Ally Financial by 385.2% during the second quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 597 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Price Performance

NYSE ALLY opened at $40.72 on Wednesday. The business’s fifty day moving average is $39.97 and its 200 day moving average is $38.92. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $44.83. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $12.54 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 0.27 and a beta of 1.21.

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

Ally Financial Announces Dividend

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

Insider Buying and Selling at Ally Financial

In other news, insider Kathleen L. Patterson sold 29,000 shares of the stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $40.86, for a total value of $1,184,940.00. Following the completion of the sale, the insider directly owned 100,203 shares of the company’s stock, valued at $4,094,294.58. This represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALLY has been the subject of a number of research analyst reports. Truist Financial lifted their target price on shares of Ally Financial from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Morgan Stanley raised their price target on Ally Financial from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Wells Fargo & Company upgraded Ally Financial from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $37.00 to $45.00 in a research report on Tuesday, September 2nd. Evercore ISI lowered their target price on Ally Financial from $45.00 to $44.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ally Financial in a research note on Wednesday, November 19th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.