Jupiter Topco LLC Purchases Shares of 873,598 Ally Financial Inc. $ALLY

Jupiter Topco LLC purchased a new stake in Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, HoldingsChannel reports. The firm purchased 873,598 shares of the financial services provider’s stock, valued at approximately $40,144,000.

A number of other institutional investors have also made changes to their positions in the business. Hsbc Holdings PLC acquired a new position in shares of Ally Financial during the 2nd quarter worth about $3,405,000. PDT Partners LLC acquired a new stake in Ally Financial in the 2nd quarter valued at approximately $2,060,000. Canada Pension Plan Investment Board acquired a new stake in Ally Financial in the 2nd quarter valued at approximately $77,752,000. Lakewood Capital Management LP bought a new position in Ally Financial in the 2nd quarter worth approximately $80,817,000. Finally, Legal & General Group Plc bought a new position in Ally Financial in the 2nd quarter worth approximately $20,715,000. 88.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALLY. Bank of America increased their price objective on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Citigroup dropped their target price on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $58.00 target price on shares of Ally Financial in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Finally, Truist Financial decreased their price target on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and two 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 $53.64.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the sale, the insider owned 88,927 shares in the company, valued at $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Ally Financial Price Performance

Shares of ALLY stock opened at $42.82 on Friday. The stock has a 50 day moving average of $44.59 and a two-hundred day moving average of $42.64. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29. The company has a market capitalization of $13.02 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.26 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.01). The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.Ally Financial’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 EPS. As a group, equities analysts expect that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.30 per share. The ex-dividend date was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Ally Financial’s payout ratio is currently 28.30%.

Ally Financial Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.