Louisiana State Employees Retirement System Makes New $3.19 Million Investment in Ally Financial Inc. $ALLY

Louisiana State Employees Retirement System acquired a new stake in Ally Financial Inc. (NYSE:ALLY) in the 1st quarter, Holdings Channel.com reports. The fund acquired 81,400 shares of the financial services provider’s stock, valued at approximately $3,193,000.

A number of other institutional investors have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Ally Financial during the 4th quarter worth $29,000. Fideuram Asset Management Ireland dac acquired a new position in Ally Financial in the fourth quarter valued at about $35,000. Safe Harbor Fiduciary LLC acquired a new position in Ally Financial in the fourth quarter valued at about $37,000. Harvest Fund Management Co. Ltd bought a new stake in Ally Financial during the fourth quarter worth about $38,000. Finally, SBI Securities Co. Ltd. lifted its position in Ally Financial by 43.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 904 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 276 shares during the period. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Stock Performance

Ally Financial stock opened at $47.21 on Friday. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month high of $47.27. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The business’s 50-day moving average price is $43.73 and its two-hundred day moving average price is $42.60. The stock has a market cap of $14.47 billion, a PE ratio of 11.51, a P/E/G ratio of 0.29 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last posted its earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the business earned $0.58 earnings per share. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, analysts expect that Ally Financial Inc. will post 5.26 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, May 1st. Ally Financial’s dividend payout ratio is currently 29.27%.

Insider Activity at Ally Financial

In other Ally Financial news, insider Douglas R. Timmerman sold 39,675 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the sale, the insider owned 477,627 shares of the company’s stock, valued at approximately $21,574,411.59. The trade was a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephanie N. Richard sold 5,000 shares of the business’s stock in a transaction on 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 position. The SEC filing for this sale provides additional information. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on ALLY. Bank of America raised their target price on shares of Ally Financial from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, April 10th. JPMorgan Chase & Co. cut their price target on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Truist Financial set a $54.00 price target on shares of Ally Financial in a research report on Tuesday, April 21st. Citigroup decreased their price objective on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday. Fourteen 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.50.

About Ally Financial

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.