1,692,097 Shares in Ally Financial Inc. $ALLY Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in Ally Financial Inc. (NYSE:ALLY) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 1,692,097 shares of the financial services provider’s stock, valued at approximately $77,752,000.

Other hedge funds have also recently bought and sold shares of the company. Tocqueville Asset Management L.P. acquired a new stake in shares of Ally Financial in the second quarter worth $17,613,000. State of Wyoming acquired a new position in Ally Financial during the 2nd quarter valued at $3,195,000. Intech Investment Management LLC acquired a new position in Ally Financial during the 4th quarter valued at $3,926,000. Geode Capital Management LLC boosted its holdings in Ally Financial by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider’s stock valued at $243,795,000 after purchasing an additional 241,000 shares during the period. Finally, Qsemble Capital Management LP boosted its holdings in Ally Financial by 136.0% in the 4th quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider’s stock valued at $7,235,000 after purchasing an additional 92,043 shares during the period. 88.76% of the stock is owned by institutional investors and hedge funds.

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 dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the transaction, the insider owned 88,927 shares in the company, valued at $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.

Ally Financial Stock Down 0.0%

ALLY opened at $42.58 on Thursday. The company has a market capitalization of $12.95 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.26 and a beta of 1.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s fifty day moving average price is $44.64 and its two-hundred day moving average price is $42.63. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29.

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

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were 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 was Friday, July 31st. Ally Financial’s dividend payout ratio is 28.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ALLY. Royal Bank Of Canada boosted their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Citigroup reduced their target price on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Bank of America lifted their target price on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Truist Financial lowered their price target on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company upped their price target on Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, June 26th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.64.

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.