BNP Paribas Financial Markets Lowers Position in Ally Financial Inc. $ALLY

BNP Paribas Financial Markets decreased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 64.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 266,455 shares of the financial services provider’s stock after selling 479,022 shares during the period. BNP Paribas Financial Markets’ holdings in Ally Financial were worth $12,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NewSquare Capital LLC raised its holdings in shares of Ally Financial by 21,520.9% in the 3rd quarter. NewSquare Capital LLC now owns 27,891 shares of the financial services provider’s stock valued at $1,093,000 after acquiring an additional 27,762 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ally Financial during the third quarter worth about $1,194,000. Prana Capital Management LP grew its holdings in shares of Ally Financial by 177.3% during the third quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider’s stock worth $7,007,000 after purchasing an additional 114,305 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new position in shares of Ally Financial in the third quarter worth approximately $45,733,000. Finally, American Century Companies Inc. increased its position in shares of Ally Financial by 30.9% in the third quarter. American Century Companies Inc. now owns 2,251,925 shares of the financial services provider’s stock worth $88,276,000 after purchasing an additional 531,269 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Down 0.1%

Shares of ALLY opened at $42.71 on Monday. Ally Financial Inc. has a 1 year low of $35.71 and a 1 year high of $47.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $42.37 and a two-hundred day simple moving average of $42.14. The firm has a market cap of $13.09 billion, a P/E ratio of 10.42, 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 Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business posted $0.58 EPS. The business’s quarterly revenue was up 36.4% on a year-over-year basis. On average, analysts forecast that Ally Financial Inc. will post 5.28 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial’s payout ratio is currently 29.27%.

Insider Buying and Selling at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the transaction, the insider owned 93,927 shares in the company, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas R. Timmerman sold 39,675 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the completion of the sale, the insider directly owned 477,627 shares of the company’s stock, valued at approximately $21,574,411.59. This trade represents a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

ALLY has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Monday. Evercore reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Ally Financial in a report on Tuesday, April 21st. Truist Financial set a $54.00 target price on shares of Ally Financial in a research report on Tuesday, April 21st. Finally, Weiss Ratings cut Ally Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Ally Financial presently has a consensus rating of “Moderate Buy” and an average price target of $54.14.

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.