450,825 Shares in Ally Financial Inc. $ALLY Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 450,825 shares of the financial services provider’s stock, valued at approximately $20,715,000.

A number of other institutional investors have also recently added to or reduced their stakes in ALLY. BlackRock Inc. bought a new stake in Ally Financial in the second quarter worth approximately $1,315,659,000. Wellington Management Group LLP raised its holdings in shares of Ally Financial by 19.5% during the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock valued at $646,347,000 after purchasing an additional 2,332,610 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ally Financial by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider’s stock valued at $353,776,000 after purchasing an additional 309,638 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Ally Financial by 11.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider’s stock valued at $266,134,000 after purchasing an additional 712,443 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Ally Financial by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider’s stock valued at $243,795,000 after purchasing an additional 241,000 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Stock Performance

NYSE ALLY opened at $42.20 on Friday. The company’s fifty day moving average is $44.52 and its two-hundred day moving average is $42.63. Ally Financial Inc. has a 52-week low of $35.92 and a 52-week high of $47.29. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of 9.95, 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 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the company posted $0.99 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALLY. Bank of America raised their target price on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Truist Financial cut their price objective on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Citigroup reduced their target price on Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Finally, Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and a consensus target price of $53.64.

Insider Buying and Selling

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the sale, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. This trade represents a 5.32% 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. 0.46% of the stock is currently owned by company insiders.

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.