London Co. of Virginia Sells 410,027 Shares of Ally Financial Inc. $ALLY

London Co. of Virginia trimmed its position in shares of Ally Financial Inc. (NYSE:ALLY) by 9.5% during the 1st quarter, Holdings Channel reports. The fund owned 3,904,868 shares of the financial services provider’s stock after selling 410,027 shares during the period. London Co. of Virginia’s holdings in Ally Financial were worth $153,188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in Ally Financial in the fourth quarter worth $29,000. Fideuram Asset Management Ireland dac bought a new position in Ally Financial during the fourth quarter valued at $35,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Ally Financial in the 4th quarter worth $37,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Ally Financial in the 4th quarter worth $38,000. Finally, SJS Investment Consulting Inc. grew its stake in shares of Ally Financial by 30.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock worth $40,000 after buying an additional 240 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Stock Down 2.5%

Shares of NYSE:ALLY opened at $42.88 on Friday. Ally Financial Inc. has a 1 year low of $35.92 and a 1 year high of $47.29. The business has a 50 day simple moving average of $44.30 and a two-hundred day simple moving average of $42.62. The firm has a market capitalization of $13.14 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.26 and a beta of 1.09. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.93.

Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company posted $0.99 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, July 31st. Ally Financial’s dividend payout ratio is 28.30%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ALLY shares. Evercore restated an “outperform” rating and set a $54.00 target price on shares of Ally Financial in a research report on Tuesday, April 21st. Bank of America lifted their price target on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. 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. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.86.

Insider Buying and Selling

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the sale, the insider owned 93,927 shares in the company, valued at $3,958,083.78. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by company insiders.

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.