PNC Financial Services Group Inc. Cuts Position in Ally Financial Inc. $ALLY

PNC Financial Services Group Inc. lowered its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 34.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,384 shares of the financial services provider’s stock after selling 23,211 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ally Financial were worth $1,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ALLY. Royal Bank of Canada increased its holdings in Ally Financial by 106.5% in the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after acquiring an additional 129,497 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Ally Financial by 22.8% during the first quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 415 shares in the last quarter. Empowered Funds LLC raised its position in shares of Ally Financial by 11.1% during the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 1,292 shares during the last quarter. Focus Partners Wealth purchased a new position in Ally Financial in the 1st quarter valued at about $259,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Ally Financial by 374.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock worth $58,000 after buying an additional 1,166 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Up 1.4%

NYSE ALLY opened at $43.56 on Friday. The business’s fifty day simple moving average is $44.42 and its 200-day simple moving average is $42.51. 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 firm has a market cap of $13.25 billion, a PE ratio of 10.27, a P/E/G ratio of 0.27 and a beta of 1.09. Ally Financial Inc. has a 52 week low of $35.92 and a 52 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). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the company posted $0.99 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ALLY shares. Morgan Stanley raised their target price on Ally Financial from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. decreased their price objective on Ally Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Evercore reaffirmed an “outperform” rating and set a $54.00 target price on shares of Ally Financial in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group raised their price target on shares of Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Ally Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.86.

Insider Buying and Selling

In related news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 93,927 shares in the company, valued at approximately $3,958,083.78. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Ally Financial 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.