Ieq Capital LLC Buys Shares of 101,022 Ally Financial Inc. $ALLY

Ieq Capital LLC purchased a new stake in Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 101,022 shares of the financial services provider’s stock, valued at approximately $4,642,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ALLY. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Ally Financial in the 4th quarter valued at about $29,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Ally Financial in the fourth quarter valued at about $35,000. Trust Co. of Vermont purchased a new stake in shares of Ally Financial in the second quarter valued at about $36,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Ally Financial in the fourth quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Ally Financial in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Insider Activity

In other news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the sale, the insider owned 88,927 shares in the company, valued at $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ALLY. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $58.00 price objective on shares of Ally Financial in a research report on Wednesday, July 22nd. Citigroup lowered their target price on Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. Wells Fargo & Company raised their price target on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Royal Bank Of Canada boosted their price target on Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Finally, Truist Financial reduced their price objective on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.64.

Ally Financial Stock Performance

NYSE:ALLY opened at $42.96 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $13.07 billion, a PE ratio of 10.13, a P/E/G ratio of 0.27 and a beta of 1.10. The firm has a 50 day simple moving average of $44.82 and a 200-day simple moving average of $42.63. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29.

Ally Financial (NYSE:ALLY) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, equities analysts expect that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, July 31st. Ally Financial’s dividend payout ratio is currently 28.30%.

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.