Ethic Inc. Buys 863 Shares of Ally Financial Inc. (NYSE:ALLY)

Ethic Inc. lifted its position in Ally Financial Inc. (NYSE:ALLY) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,668 shares of the financial services provider’s stock after purchasing an additional 863 shares during the period. Ethic Inc.’s holdings in Ally Financial were worth $744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Ally Financial in the 4th quarter worth $75,483,000. Assenagon Asset Management S.A. raised its holdings in shares of Ally Financial by 233.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock valued at $87,509,000 after acquiring an additional 1,701,264 shares in the last quarter. Phoenix Financial Ltd. lifted its stake in Ally Financial by 86.4% in the fourth quarter. Phoenix Financial Ltd. now owns 3,390,066 shares of the financial services provider’s stock worth $122,077,000 after acquiring an additional 1,571,027 shares during the period. ANTIPODES PARTNERS Ltd grew its holdings in Ally Financial by 75.6% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,956,037 shares of the financial services provider’s stock worth $106,455,000 after acquiring an additional 1,272,853 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Ally Financial by 41.4% during the 4th quarter. First Trust Advisors LP now owns 3,458,352 shares of the financial services provider’s stock valued at $124,535,000 after purchasing an additional 1,011,985 shares during the period. Institutional investors own 88.76% of the company’s stock.

Analysts Set New Price Targets

ALLY has been the subject of several research reports. Jefferies Financial Group upped their price target on shares of Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Truist Financial dropped their target price on Ally Financial from $45.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. BTIG Research downgraded Ally Financial from a “neutral” rating to a “sell” rating and set a $30.00 price target on the stock. in a report on Tuesday, March 25th. JPMorgan Chase & Co. decreased their price objective on Ally Financial from $43.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price objective on Ally Financial from $34.00 to $32.00 and set an “underweight” rating on the stock in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $41.69.

Insiders Place Their Bets

In related news, CFO Russell E. Hutchinson bought 8,200 shares of the company’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were purchased at an average cost of $30.81 per share, with a total value of $252,642.00. Following the completion of the acquisition, the chief financial officer now directly owns 236,421 shares in the company, valued at approximately $7,284,131.01. The trade was a 3.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie N. Richard sold 8,000 shares of Ally Financial stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total value of $257,120.00. Following the transaction, the insider now owns 90,387 shares of the company’s stock, valued at approximately $2,905,038.18. This represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

Ally Financial Trading Down 2.3%

NYSE ALLY opened at $35.79 on Thursday. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $45.46. The company has a fifty day simple moving average of $33.81 and a two-hundred day simple moving average of $35.96. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The stock has a market cap of $10.99 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.32 and a beta of 1.14.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.15. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the business earned $0.45 EPS. On average, analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.20 annualized dividend and a yield of 3.35%. Ally Financial’s dividend payout ratio (DPR) is presently 88.24%.

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.