Employees Retirement System of Texas Sells 29,800 Shares of Ally Financial Inc. $ALLY

Employees Retirement System of Texas reduced its position in shares of Ally Financial Inc. (NYSE:ALLY) by 1.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,666,846 shares of the financial services provider’s stock after selling 29,800 shares during the quarter. Employees Retirement System of Texas’ holdings in Ally Financial were worth $75,491,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALLY. Sweeney & Michel LLC raised its holdings in shares of Ally Financial by 4.0% in the third quarter. Sweeney & Michel LLC now owns 6,663 shares of the financial services provider’s stock worth $246,000 after buying an additional 256 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Ally Financial by 25.0% during the fourth quarter. Larson Financial Group LLC now owns 1,340 shares of the financial services provider’s stock valued at $61,000 after buying an additional 268 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of Ally Financial by 43.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 904 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 276 shares during the period. Signaturefd LLC increased its position in shares of Ally Financial by 2.0% in the 4th quarter. Signaturefd LLC now owns 13,933 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 277 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Ally Financial by 1.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 17,941 shares of the financial services provider’s stock worth $813,000 after acquiring an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Up 0.8%

Shares of ALLY opened at $42.70 on Wednesday. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.26 and a beta of 1.12. Ally Financial Inc. has a 52 week low of $33.81 and a 52 week high of $47.27. The stock’s 50-day moving average price is $41.70 and its 200-day moving average price is $41.96. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.93 by $0.18. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.14 billion. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The business’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. On average, sell-side analysts predict that Ally Financial Inc. will post 5.3 EPS for the current year.

Ally Financial Dividend Announcement

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

Insider Buying and Selling at Ally Financial

In other Ally Financial news, insider Douglas R. Timmerman sold 39,675 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the completion of the transaction, the insider owned 477,627 shares in the company, valued at approximately $21,574,411.59. This represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.14, for a total transaction of $210,700.00. Following 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 SEC filing for this sale provides additional information. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ALLY shares. Wall Street Zen cut Ally Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Evercore reissued an “outperform” rating and issued a $54.00 price objective on shares of Ally Financial in a report on Tuesday, April 21st. The Goldman Sachs Group lifted 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. cut their price target on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Finally, Morgan Stanley lifted their price objective on shares of Ally Financial from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.14.

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.