Arrowstreet Capital Limited Partnership Purchases 712,443 Shares of Ally Financial Inc. $ALLY

Arrowstreet Capital Limited Partnership increased its position in shares of Ally Financial Inc. (NYSE:ALLY) by 11.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,783,947 shares of the financial services provider’s stock after acquiring an additional 712,443 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Ally Financial were worth $266,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank of Nova Scotia raised its position in Ally Financial by 40.2% during the first quarter. Bank of Nova Scotia now owns 373,723 shares of the financial services provider’s stock valued at $14,661,000 after purchasing an additional 107,092 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Ally Financial by 100.5% during the 1st quarter. Lido Advisors LLC now owns 14,146 shares of the financial services provider’s stock worth $555,000 after buying an additional 7,091 shares during the last quarter. Cetera Investment Advisers boosted its stake in Ally Financial by 8.2% in the first quarter. Cetera Investment Advisers now owns 75,379 shares of the financial services provider’s stock valued at $2,957,000 after buying an additional 5,725 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Ally Financial by 41.0% in the first quarter. Meeder Asset Management Inc. now owns 167,468 shares of the financial services provider’s stock valued at $6,570,000 after buying an additional 48,673 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its position in Ally Financial by 37.5% in the first quarter. Meeder Advisory Services Inc. now owns 8,581 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 2,340 shares during the last quarter. 88.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ALLY. Evercore reissued an “outperform” rating and set a $54.00 target price on shares of Ally Financial in a research note on Tuesday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. The Goldman Sachs Group upped their price target on shares of Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Truist Financial set a $54.00 price target on Ally Financial in a research note on Tuesday, April 21st. Finally, Barclays increased their target price on Ally Financial from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ally Financial currently has an average rating of “Moderate Buy” and an average target price of $53.86.

Ally Financial Stock Down 2.5%

Ally Financial stock opened at $42.88 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.93 and a current ratio of 0.92. Ally Financial Inc. has a 52-week low of $35.92 and a 52-week high of $47.29. The firm has a 50 day moving average price of $44.30 and a two-hundred day moving average price of $42.62. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.27 and a beta of 1.09.

Ally Financial (NYSE:ALLY) last posted 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 firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts predict that Ally Financial Inc. will post 5.24 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is 28.30%.

Insider Activity at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the completion of the sale, the insider directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by 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.