VIRGINIA RETIREMENT SYSTEMS ET Al Buys 19,600 Shares of Ally Financial Inc. $ALLY

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Ally Financial Inc. (NYSE:ALLY) by 27.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,700 shares of the financial services provider’s stock after buying an additional 19,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Ally Financial were worth $3,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Ally Financial in the second quarter worth approximately $1,315,659,000. Berkshire Hathaway Inc bought a new stake in Ally Financial in the second quarter valued at approximately $1,240,650,000. Dimensional Fund Advisors LP increased its position in Ally Financial by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider’s stock valued at $353,776,000 after purchasing an additional 309,638 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Ally Financial by 11.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider’s stock valued at $266,134,000 after purchasing an additional 712,443 shares during the period. Finally, Donald Smith & CO. Inc. bought a new position in Ally Financial during the 2nd quarter worth approximately $172,509,000. 88.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ally Financial

In other news, insider Kathleen Patterson sold 12,831 shares of the stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $38.65, for a total transaction of $495,918.15. Following the transaction, the insider owned 67,781 shares of the company’s stock, valued at $2,619,735.65. This represents a 15.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.46% of the company’s stock.

Ally Financial Stock Performance

NYSE:ALLY opened at $38.59 on Tuesday. The company has a fifty day moving average of $39.70 and a 200-day moving average of $41.89. The firm has a market capitalization of $11.74 billion, a P/E ratio of 8.17, a P/E/G ratio of 0.32 and a beta of 1.11. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.45. Ally Financial Inc. has a twelve month low of $35.92 and a twelve month high of $47.29.

Ally Financial (NYSE:ALLY) last issued its earnings results on Tuesday, October 20th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. Ally Financial had a net margin of 16.84% and a return on equity of 12.11%. Ally Financial’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. As a group, sell-side analysts anticipate that Ally Financial Inc. will post 4.99 EPS for the current year.

Ally Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.35 per share. This is an increase from Ally Financial’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, November 2nd. Ally Financial’s dividend payout ratio (DPR) is currently 27.52%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALLY. Barclays reduced their price objective on shares of Ally Financial from $56.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 21st. Morgan Stanley downgraded shares of Ally Financial from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $55.00 to $43.00 in a research note on Monday, October 12th. JPMorgan Chase & Co. boosted their target price on shares of Ally Financial from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, October 21st. Raymond James Financial cut their price target on shares of Ally Financial from $55.00 to $52.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 6th. Finally, TD Cowen decreased their price target on Ally Financial from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.93.

Ally Financial Profile

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan, and traded on the New York Stock Exchange under the symbol ALLY. The company primarily serves consumers, automotive dealers and businesses in the United States through online and branchless banking and financing platforms.

Ally’s automotive finance business provides retail installment loans and leases to consumers and floorplan financing and other services to automotive dealers. Its consumer banking operations, conducted through Ally Bank, offer deposit products such as savings accounts, money market accounts and certificates of deposit, along with consumer lending products.

The company also provides credit cards and commercial financing, and offers investment and brokerage services through Ally Invest.