Dimensional Fund Advisors LP Has $329.84 Million Position in Ally Financial Inc. $ALLY

Dimensional Fund Advisors LP cut its position in shares of Ally Financial Inc. (NYSE:ALLY) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,413,894 shares of the financial services provider’s stock after selling 149,918 shares during the quarter. Dimensional Fund Advisors LP owned 2.73% of Ally Financial worth $329,838,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ALLY. Norges Bank acquired a new stake in shares of Ally Financial during the 2nd quarter worth approximately $95,897,000. Arrowstreet Capital Limited Partnership boosted its stake in Ally Financial by 39.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider’s stock worth $210,352,000 after buying an additional 1,523,425 shares in the last quarter. Marshall Wace LLP acquired a new stake in Ally Financial during the second quarter worth $51,661,000. American Century Companies Inc. increased its holdings in Ally Financial by 196.2% in the 2nd quarter. American Century Companies Inc. now owns 1,720,656 shares of the financial services provider’s stock valued at $67,020,000 after buying an additional 1,139,703 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Ally Financial in the 2nd quarter valued at $44,101,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLY has been the topic of several recent research reports. Truist Financial decreased their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. UBS Group set a $48.00 price objective on Ally Financial in a research note on Monday, January 12th. Weiss Ratings cut Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. BTIG Research reaffirmed a “neutral” rating on shares of Ally Financial in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $52.00 price objective on shares of Ally Financial in a research note on Monday, January 12th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Ally Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.31.

Ally Financial Stock Performance

Ally Financial stock opened at $39.94 on Friday. The stock has a 50-day simple moving average of $42.81 and a 200 day simple moving average of $41.67. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 0.21 and a beta of 1.18. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $47.27.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 EPS for the quarter, topping 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 firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 4.8% on a year-over-year basis. On average, research analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.20 annualized dividend and a yield of 3.0%. Ally Financial’s dividend payout ratio is currently 51.06%.

Ally Financial declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 10th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 15.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Russell E. Hutchinson bought 11,566 shares of the stock in a transaction dated Tuesday, January 27th. The stock was bought at an average cost of $43.17 per share, with a total value of $499,304.22. Following the purchase, the chief financial officer 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael George Rhodes bought 23,800 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were purchased at an average price of $41.68 per share, with a total value of $991,984.00. Following the transaction, the chief executive officer owned 49,434 shares of the company’s stock, valued at $2,060,409.12. The trade was a 92.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.67% of the stock is currently owned by company insiders.

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.