Bessemer Group Inc. Has $73,000 Position in Ally Financial Inc. $ALLY

Bessemer Group Inc. cut its position in Ally Financial Inc. (NYSE:ALLY) by 97.5% during the 1st quarter, HoldingsChannel reports. The firm owned 1,849 shares of the financial services provider’s stock after selling 72,914 shares during the quarter. Bessemer Group Inc.’s holdings in Ally Financial were worth $73,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALLY. Royal Bank of Canada lifted its holdings in Ally Financial by 106.5% during the first quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after acquiring an additional 129,497 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Ally Financial by 22.8% in the first quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock valued at $82,000 after buying an additional 415 shares during the period. Empowered Funds LLC increased its position in shares of Ally Financial by 11.1% during the first quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 1,292 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Ally Financial during the first quarter worth $259,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Ally Financial by 374.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 1,166 shares during the period. 88.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Ally Financial

In related 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 sale, the insider owned 93,927 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

Ally Financial Stock Performance

Shares of ALLY stock opened at $43.67 on Tuesday. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29. The company’s fifty day simple moving average is $44.33 and its 200-day simple moving average is $42.57. The firm has a market cap of $13.39 billion, a PE ratio of 10.30, a P/E/G ratio of 0.27 and a beta of 1.09. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share 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 business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the business posted $0.99 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts expect that Ally Financial Inc. will post 5.19 EPS for the current fiscal 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 paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, July 31st. Ally Financial’s dividend payout ratio is currently 28.30%.

Wall Street Analyst Weigh In

Several research firms recently commented on ALLY. Truist Financial set a $54.00 price objective on shares of Ally Financial in a research report on Tuesday, April 21st. Evercore reiterated an “outperform” rating and set a $54.00 target price on shares of Ally Financial in a report on Tuesday, April 21st. Barclays lifted their price target on Ally Financial from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.86.

About Ally Financial

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.