Arrowstreet Capital Limited Partnership Boosts Stock Holdings in Ally Financial Inc. $ALLY

Arrowstreet Capital Limited Partnership raised its stake in Ally Financial Inc. (NYSE:ALLY) by 39.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,400,560 shares of the financial services provider’s stock after purchasing an additional 1,523,425 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Ally Financial were worth $210,352,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ALLY. Dimensional Fund Advisors LP lifted its stake 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 worth $320,855,000 after acquiring an additional 134,113 shares during the period. Wellington Management Group LLP bought a new position in Ally Financial in the 1st quarter worth about $253,881,000. Jacobs Levy Equity Management Inc. lifted its position in Ally Financial by 10.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,658,877 shares of the financial services provider’s stock valued at $169,909,000 after acquiring an additional 456,698 shares in the last quarter. First Manhattan CO. LLC. boosted its stake in shares of Ally Financial by 0.8% in the 1st quarter. First Manhattan CO. LLC. now owns 4,258,760 shares of the financial services provider’s stock worth $155,317,000 after buying an additional 32,121 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Ally Financial by 234.7% during the 1st quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider’s stock valued at $136,838,000 after acquiring an additional 2,630,981 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Insiders Place Their Bets

In other news, insider Kathleen L. Patterson sold 29,000 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total transaction of $1,184,940.00. Following the completion of the transaction, the insider directly owned 100,203 shares in the company, valued at approximately $4,094,294.58. This represents a 22.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by insiders.

Ally Financial Stock Performance

Shares of ALLY stock opened at $41.16 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $44.83. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 0.28 and a beta of 1.22. The stock has a 50 day simple moving average of $39.71 and a 200-day simple moving average of $39.10.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. The business had revenue of $2.06 billion during the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. On average, equities analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $1.20 annualized dividend and a yield of 2.9%. Ally Financial’s payout ratio is 72.29%.

Analysts Set New Price Targets

Several research analysts have weighed in on ALLY shares. Morgan Stanley upped their price target on Ally Financial from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Wall Street Zen downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Citigroup lifted their price target on Ally Financial from $59.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ally Financial in a research report on Monday. Finally, Truist Financial increased their price objective on shares of Ally Financial from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, October 20th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.67.

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.