Voya Investment Management LLC Trims Holdings in Ally Financial Inc. $ALLY

Voya Investment Management LLC trimmed its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 42.6% during the third quarter, HoldingsChannel.com reports. The firm owned 23,714 shares of the financial services provider’s stock after selling 17,609 shares during the quarter. Voya Investment Management LLC’s holdings in Ally Financial were worth $930,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its holdings in Ally Financial by 39.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider’s stock valued at $210,352,000 after buying an additional 1,523,425 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Ally Financial by 10.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,658,877 shares of the financial services provider’s stock worth $169,909,000 after buying an additional 456,698 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Ally Financial by 38.9% in the second quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock valued at $146,888,000 after acquiring an additional 1,056,060 shares during the period. Millennium Management LLC grew its stake in Ally Financial by 234.7% during the first quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider’s stock valued at $136,838,000 after acquiring an additional 2,630,981 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd grew its stake in Ally Financial by 7.7% during the second quarter. ANTIPODES PARTNERS Ltd now owns 3,500,623 shares of the financial services provider’s stock valued at $136,360,000 after acquiring an additional 249,347 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Ally Financial Trading Down 0.5%

ALLY stock opened at $45.56 on Wednesday. The company has a market capitalization of $14.04 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 0.32 and a beta of 1.22. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a one year low of $29.52 and a one year high of $46.78. The company’s 50 day moving average price is $41.78 and its two-hundred day moving average price is $40.42.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter. Ally Financial had a return on equity of 9.96% and a net margin of 8.10%.The firm had revenue of $2.06 billion for the quarter. As a group, analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

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

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a $0.30 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.20 annualized dividend and a yield of 2.6%. Ally Financial’s payout ratio is presently 72.29%.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, insider Kathleen L. Patterson sold 29,000 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $40.86, for a total value of $1,184,940.00. Following the sale, the insider owned 100,203 shares of the company’s stock, valued at $4,094,294.58. This trade represents a 22.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

ALLY has been the subject of several analyst reports. Wells Fargo & Company raised shares of Ally Financial from a “hold” rating to an “overweight” rating in a report on Wednesday, December 17th. Truist Financial increased their price objective on Ally Financial from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods reduced their target price on Ally Financial from $56.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ally Financial in a report on Monday. Finally, Cowen upgraded Ally Financial from a “hold” rating to a “buy” rating in a research report on Monday, October 20th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Ally Financial currently has a consensus rating of “Moderate Buy” and an average target price of $46.47.

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.