Geode Capital Management LLC Increases Stock Holdings in Ally Financial Inc. $ALLY

Geode Capital Management LLC lifted its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,381,838 shares of the financial services provider’s stock after buying an additional 241,000 shares during the quarter. Geode Capital Management LLC’s holdings in Ally Financial were worth $243,795,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Clearstead Advisors LLC raised its holdings in shares of Ally Financial by 107.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,043 shares of the financial services provider’s stock valued at $47,000 after buying an additional 541 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Ally Financial by 163.7% during the 4th quarter. Hantz Financial Services Inc. now owns 5,957 shares of the financial services provider’s stock valued at $270,000 after buying an additional 3,698 shares during the period. Prospera Financial Services Inc raised its holdings in shares of Ally Financial by 19.9% during the 4th quarter. Prospera Financial Services Inc now owns 6,945 shares of the financial services provider’s stock valued at $315,000 after buying an additional 1,151 shares during the period. Principle Wealth Partners LLC purchased a new stake in shares of Ally Financial during the 4th quarter valued at about $213,000. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Ally Financial by 14.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 7,124 shares of the financial services provider’s stock valued at $323,000 after buying an additional 878 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALLY. Wall Street Zen upgraded Ally Financial from a “hold” rating to a “buy” rating in a report on Sunday. Truist Financial set a $54.00 price objective on Ally Financial in a research note on Tuesday, April 21st. Weiss Ratings lowered Ally Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Bank of America raised their price objective on Ally Financial from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Finally, Barclays raised their price objective on Ally Financial from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Ally Financial presently has a consensus rating of “Moderate Buy” and an average price target of $54.14.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $42.10 on Wednesday. Ally Financial Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $47.27. The business has a 50 day moving average price of $42.14 and a two-hundred day moving average price of $42.06. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The firm has a market cap of $12.91 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 0.25 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.93 by $0.18. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The business’s revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. Sell-side analysts expect that Ally Financial Inc. will post 5.3 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.30 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. Ally Financial’s dividend payout ratio (DPR) is presently 29.27%.

Insider Activity at Ally Financial

In other news, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $45.17, for a total value of $1,792,119.75. Following the completion of the transaction, the insider owned 477,627 shares in the company, valued at approximately $21,574,411.59. This trade represents a 7.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the completion of the transaction, the insider owned 93,927 shares of the company’s stock, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their position. The SEC filing for this sale provides additional information. 0.46% of the stock is currently owned by company insiders.

About Ally Financial

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.