Great Lakes Advisors LLC Buys New Stake in Ally Financial Inc. $ALLY

Great Lakes Advisors LLC purchased a new position in Ally Financial Inc. (NYSE:ALLY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,235 shares of the financial services provider’s stock, valued at approximately $976,000.

A number of other hedge funds also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in Ally Financial during the fourth quarter valued at $29,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Ally Financial in the 4th quarter worth $35,000. Trust Co. of Vermont bought a new stake in shares of Ally Financial in the 2nd quarter worth about $36,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Ally Financial in the 4th quarter worth about $37,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Ally Financial during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Weiss Ratings raised shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Citigroup reduced their price objective on Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Wells Fargo & Company upped their price objective on Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Royal Bank Of Canada raised their price objective on Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Finally, Wall Street Zen cut Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and an average price target of $53.64.

Ally Financial Price Performance

ALLY stock opened at $42.96 on Friday. The stock 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. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29. The company has a 50-day moving average price of $44.82 and a 200 day moving average price of $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.

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

Ally Financial Announces Dividend

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

Insider Buying and Selling at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following the sale, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

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.