Thrivent Financial for Lutherans Reduces Stock Holdings in Ally Financial Inc. $ALLY

Thrivent Financial for Lutherans reduced its position in Ally Financial Inc. (NYSE:ALLY) by 0.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,846,825 shares of the financial services provider’s stock after selling 13,691 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.25% of Ally Financial worth $150,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP grew its stake in shares of Ally Financial by 385.2% during the 2nd quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 597 shares during the period. Mather Group LLC. purchased a new stake in Ally Financial during the third quarter valued at about $31,000. Hantz Financial Services Inc. boosted its position in Ally Financial by 662.0% during the second quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 715 shares during the period. Westside Investment Management Inc. increased its stake in shares of Ally Financial by 116.8% in the second quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 451 shares in the last quarter. Finally, MAI Capital Management increased its stake in shares of Ally Financial by 45.1% in the second quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 303 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ally Financial

In other news, CEO Michael George Rhodes bought 23,800 shares of Ally Financial stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average price of $41.68 per share, with a total value of $991,984.00. Following the completion of the purchase, the chief executive officer directly owned 49,434 shares in the company, valued at $2,060,409.12. The trade was a 92.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Russell E. Hutchinson purchased 11,566 shares of the stock in a transaction on Tuesday, January 27th. The shares were purchased at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the transaction, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. This represents a 5.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.67% of the stock is currently owned by insiders.

Ally Financial Stock Performance

Shares of ALLY opened at $42.21 on Friday. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $47.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The company has a market cap of $13.00 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 0.22 and a beta of 1.17. The stock has a 50-day moving average price of $43.86 and a 200-day moving average price of $41.20.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the firm posted $0.78 earnings per share. Ally Financial’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 10th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 15.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, February 2nd. Ally Financial’s payout ratio is currently 51.06%.

Wall Street Analysts Forecast Growth

ALLY has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of Ally Financial from a “hold” rating to an “overweight” rating in a research note on Wednesday, December 17th. Weiss Ratings upgraded Ally Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $52.00 price target on shares of Ally Financial in a report on Monday, January 12th. Evercore ISI upgraded Ally Financial from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $48.00 to $53.00 in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. raised their target price on Ally Financial from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.44.

Ally Financial Company 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.