Chou Associates Management Inc. Makes New $10.36 Million Investment in Ally Financial Inc. $ALLY

Chou Associates Management Inc. acquired a new position in Ally Financial Inc. (NYSE:ALLY) in the 2nd quarter, HoldingsChannel reports. The firm acquired 225,525 shares of the financial services provider’s stock, valued at approximately $10,363,000. Ally Financial accounts for about 4.8% of Chou Associates Management Inc.’s holdings, making the stock its 7th biggest position.

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

Ally Financial Stock Up 1.6%

ALLY opened at $42.96 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market cap of $13.07 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.27 and a beta of 1.10. Ally Financial Inc. has a twelve month low of $35.92 and a twelve month high of $47.29. The company’s 50-day moving average price is $44.82 and its two-hundred day moving average price is $42.63.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results 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 return on equity of 11.75% and a net margin of 16.75%.The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the business earned $0.99 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts expect that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Ally Financial in a research report on Wednesday, July 22nd. Wells Fargo & Company boosted their target price on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Bank of America increased their price target on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Truist Financial reduced their price objective on Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.64.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider directly owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is owned by corporate insiders.

Ally Financial Company 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.