Ally Financial Inc. $ALLY Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in Ally Financial Inc. (NYSE:ALLY) by 15.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,259 shares of the financial services provider’s stock after selling 14,483 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ally Financial were worth $2,964,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in Ally Financial by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,797,505 shares of the financial services provider’s stock valued at $320,855,000 after acquiring an additional 134,113 shares during the last quarter. First Manhattan CO. LLC. grew its holdings in shares of Ally Financial by 4.8% during the fourth quarter. First Manhattan CO. LLC. now owns 4,226,639 shares of the financial services provider’s stock worth $153,752,000 after purchasing an additional 192,295 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Ally Financial by 84.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider’s stock worth $151,320,000 after purchasing an additional 1,918,965 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Ally Financial by 28.0% in the 4th quarter. Northern Trust Corp now owns 3,941,459 shares of the financial services provider’s stock valued at $141,932,000 after purchasing an additional 863,052 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its holdings in shares of Ally Financial by 10.0% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,251,276 shares of the financial services provider’s stock valued at $118,584,000 after purchasing an additional 295,239 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on ALLY. Royal Bank Of Canada restated an “outperform” rating on shares of Ally Financial in a research note on Monday, July 14th. Truist Financial raised their target price on shares of Ally Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 23rd. BTIG Research upgraded shares of Ally Financial from a “sell” rating to a “neutral” rating in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.80.

Ally Financial Stock Performance

Shares of ALLY stock opened at $38.2470 on Thursday. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 0.30 and a beta of 1.16. The stock has a 50 day simple moving average of $38.57 and a 200-day simple moving average of $36.27. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $43.86. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.78 by $0.21. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the firm earned $0.97 EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. Ally Financial’s dividend payout ratio (DPR) is 77.92%.

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.