Prudential Financial Inc. Has $7.90 Million Holdings in Ally Financial Inc. $ALLY

Prudential Financial Inc. lifted its stake in Ally Financial Inc. (NYSE:ALLY) by 40.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,920 shares of the financial services provider’s stock after acquiring an additional 58,640 shares during the period. Prudential Financial Inc. owned approximately 0.07% of Ally Financial worth $7,904,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ALLY. Charles Schwab Investment Management Inc. grew its position in Ally Financial by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,384,980 shares of the financial services provider’s stock worth $92,895,000 after purchasing an additional 72,444 shares during the last quarter. American Century Companies Inc. raised its position in shares of Ally Financial by 196.2% during the second quarter. American Century Companies Inc. now owns 1,720,656 shares of the financial services provider’s stock valued at $67,020,000 after buying an additional 1,139,703 shares during the last quarter. AXQ Capital LP bought a new stake in shares of Ally Financial in the second quarter valued at about $1,775,000. Franklin Resources Inc. grew its position in Ally Financial by 6.1% during the second quarter. Franklin Resources Inc. now owns 299,919 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 17,245 shares in the last quarter. Finally, MAI Capital Management increased its stake in Ally Financial by 45.1% during the second quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 303 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Kathleen L. Patterson sold 29,000 shares of Ally Financial stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $40.86, for a total value of $1,184,940.00. Following the completion of the transaction, the insider owned 100,203 shares in the company, valued at approximately $4,094,294.58. The trade was a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley raised their price objective on Ally Financial from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. TD Cowen raised Ally Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $43.00 to $50.00 in a research report on Monday, October 20th. Evercore ISI decreased their price target on shares of Ally Financial from $45.00 to $44.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Ally Financial in a research note on Tuesday. Finally, Truist Financial lifted their target price on shares of Ally Financial from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.67.

Ally Financial Stock Up 0.4%

Shares of NYSE ALLY opened at $41.30 on Friday. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $44.83. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.92 and a current ratio of 0.92. The business has a fifty day moving average of $39.78 and a two-hundred day moving average of $38.99. The stock has a market cap of $12.72 billion, a PE ratio of 24.88, a PEG ratio of 0.28 and a beta of 1.21.

Ally Financial (NYSE:ALLY) last posted its earnings results on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. The business had revenue of $2.06 billion for the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. As a group, equities research analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. Ally Financial’s dividend payout ratio (DPR) is presently 72.29%.

About Ally Financial

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.