Freestone Grove Partners LP Takes $54.46 Million Position in Ally Financial Inc. $ALLY

Freestone Grove Partners LP acquired a new position in Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,185,223 shares of the financial services provider’s stock, valued at approximately $54,461,000. Freestone Grove Partners LP owned about 0.39% of Ally Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in Ally Financial during the second quarter valued at approximately $1,315,659,000. Wellington Management Group LLP grew its position in Ally Financial by 19.5% in the fourth quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock worth $646,347,000 after buying an additional 2,332,610 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ally Financial by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider’s stock valued at $353,776,000 after buying an additional 309,638 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Ally Financial by 11.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider’s stock valued at $266,134,000 after buying an additional 712,443 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Ally Financial by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider’s stock valued at $243,795,000 after acquiring an additional 241,000 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the transaction, the insider owned 88,927 shares of the company’s stock, valued at $3,933,241.21. The trade was a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Ally Financial Trading Down 0.0%

NYSE ALLY opened at $42.58 on Thursday. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29. The firm’s fifty day simple moving average is $44.64 and its 200-day simple moving average is $42.63. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $12.95 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.26 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the firm posted $0.99 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, July 31st. Ally Financial’s dividend payout ratio (DPR) is 28.30%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price objective on Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Wells Fargo & Company increased their price target on Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Finally, Truist Financial dropped their price target on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.64.

Ally Financial 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.