London Co. of Virginia Lowers Position in Ally Financial Inc. $ALLY

London Co. of Virginia cut its position in shares of Ally Financial Inc. (NYSE:ALLY) by 4.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,604,583 shares of the financial services provider’s stock after selling 225,569 shares during the period. London Co. of Virginia’s holdings in Ally Financial were worth $180,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Ally Financial by 106.5% in the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after buying an additional 129,497 shares during the period. NewEdge Advisors LLC grew its holdings in Ally Financial by 22.8% in the first quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 415 shares during the period. Empowered Funds LLC grew its holdings in Ally Financial by 11.1% in the first quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 1,292 shares during the period. Focus Partners Wealth bought a new position in shares of Ally Financial during the first quarter valued at approximately $259,000. Finally, ProShare Advisors LLC increased its stake in shares of Ally Financial by 4.7% during the second quarter. ProShare Advisors LLC now owns 12,257 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 547 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ally Financial

In related news, CFO Russell E. Hutchinson bought 11,566 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was acquired at an average price of $43.17 per share, with a total value of $499,304.22. Following the transaction, the chief financial officer owned 225,336 shares in the company, valued at approximately $9,727,755.12. This trade represents a 5.41% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael George Rhodes bought 23,800 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were bought at an average price of $41.68 per share, with a total value of $991,984.00. Following the completion of the purchase, the chief executive officer owned 49,434 shares in the company, valued at approximately $2,060,409.12. The trade was a 92.85% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.56% of the company’s stock.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $35.98 on Tuesday. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $47.27. The business has a 50-day simple moving average of $41.59 and a two-hundred day simple moving average of $41.57. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $11.12 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.18 and a beta of 1.19.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the firm posted $0.78 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial announced that its board has approved a share repurchase plan on Wednesday, December 10th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 15.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were issued a $0.30 dividend. The ex-dividend date was Monday, February 2nd. This represents a $1.20 annualized dividend and a yield of 3.3%. Ally Financial’s dividend payout ratio (DPR) is currently 51.06%.

Wall Street Analyst Weigh In

ALLY has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Ally Financial from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. BTIG Research reissued a “neutral” rating on shares of Ally Financial in a research note on Tuesday, January 6th. Weiss Ratings downgraded shares of Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Wells Fargo & Company upgraded shares of Ally Financial from a “hold” rating to an “overweight” rating in a research note on Wednesday, December 17th. Finally, Barclays upped their target price on shares of Ally Financial from $44.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.31.

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.