Bank of New York Mellon Corp Buys 573,252 Shares of Ally Financial Inc. $ALLY

Bank of New York Mellon Corp raised its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 32.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,337,395 shares of the financial services provider’s stock after purchasing an additional 573,252 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ally Financial were worth $105,861,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in ALLY. Mirae Asset Global Investments Co. Ltd. bought a new position in Ally Financial in the fourth quarter worth $29,000. Fideuram Asset Management Ireland dac bought a new position in Ally Financial during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. boosted its holdings in Ally Financial by 43.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 904 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 276 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in Ally Financial by 107.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,043 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 541 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Ally Financial by 67.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,072 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 430 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

ALLY has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 20th. JPMorgan Chase & Co. reduced their target price 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. Bank of America upped their target price on shares of Ally Financial from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Weiss Ratings downgraded shares of Ally Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Finally, Truist Financial set a $54.00 price target on Ally Financial in a report on Tuesday, April 21st. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.14.

Insiders Place Their Bets

In related news, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction on Friday, April 17th. The stock was sold at an average price of $45.17, for a total transaction 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 $21,574,411.59. The trade was a 7.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the sale, the insider owned 93,927 shares in the company, valued at $3,958,083.78. This represents a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.46% of the stock is owned by insiders.

Ally Financial Trading Down 0.1%

Shares of NYSE 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 market cap of $13.09 billion, a PE ratio of 10.42, a P/E/G ratio of 0.26 and a beta of 1.10. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average of $42.37 and a two-hundred day moving average of $42.14.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.93 by $0.18. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The business’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. As a group, equities analysts expect that Ally Financial Inc. will post 5.28 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

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

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.