Thrivent Financial for Lutherans Decreases Holdings in Ally Financial Inc. $ALLY

Thrivent Financial for Lutherans trimmed its holdings in Ally Financial Inc. (NYSE:ALLY) by 0.4% in the third quarter, HoldingsChannel reports. The fund owned 3,846,825 shares of the financial services provider’s stock after selling 13,691 shares during the period. Thrivent Financial for Lutherans’ holdings in Ally Financial were worth $150,796,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ALLY. Norges Bank purchased a new stake in shares of Ally Financial during the second quarter valued at approximately $95,897,000. Charles Schwab Investment Management Inc. increased its stake in shares of Ally Financial by 3.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,384,980 shares of the financial services provider’s stock worth $92,895,000 after buying an additional 72,444 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Ally Financial by 19.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,029 shares of the financial services provider’s stock valued at $274,000 after buying an additional 1,163 shares during the last quarter. Acadian Asset Management LLC boosted its position in Ally Financial by 535.4% during the 2nd quarter. Acadian Asset Management LLC now owns 933,988 shares of the financial services provider’s stock valued at $36,372,000 after buying an additional 786,985 shares during the period. Finally, 111 Capital bought a new stake in Ally Financial in the 2nd quarter worth $490,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALLY. Truist Financial lowered their price objective on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, January 26th. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price target on shares of Ally Financial in a report on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of Ally Financial in a research report on Thursday, January 8th. Barclays lifted their price objective on Ally Financial from $44.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Finally, Wells Fargo & Company upgraded Ally Financial from a “hold” rating to an “overweight” rating in a report on Wednesday, December 17th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.44.

Insider Activity at Ally Financial

In related news, CEO Michael George Rhodes purchased 23,800 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were purchased at an average cost of $41.68 per share, with a total value of $991,984.00. Following the transaction, the chief executive officer directly owned 49,434 shares in the company, valued at $2,060,409.12. This trade represents a 92.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Russell E. Hutchinson purchased 11,566 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was bought at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the purchase, the chief financial officer directly owned 225,336 shares in the company, valued at $9,727,755.12. The trade was a 5.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.67% of the stock is currently owned by company insiders.

Ally Financial Price Performance

ALLY opened at $42.21 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The company has a market cap of $13.00 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.22 and a beta of 1.17. The stock has a fifty day simple moving average of $43.86 and a two-hundred day simple moving average of $41.20. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $47.27.

Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Research analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is currently 51.06%.

Ally Financial declared that its board has initiated a stock repurchase program on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 15.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.