19,832 Ally Financial Inc. $ALLY Shares Sold by State of Wyoming

State of Wyoming cut its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 28.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 49,690 shares of the financial services provider’s stock after selling 19,832 shares during the quarter. State of Wyoming’s holdings in Ally Financial were worth $1,869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Ally Financial by 3.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,247 shares of the financial services provider’s stock worth $348,000 after buying an additional 282 shares during the period. Arizona State Retirement System boosted its holdings in Ally Financial by 0.4% in the second quarter. Arizona State Retirement System now owns 76,467 shares of the financial services provider’s stock valued at $3,514,000 after acquiring an additional 296 shares during the last quarter. Waverly Advisors LLC grew its position in Ally Financial by 1.3% during the second quarter. Waverly Advisors LLC now owns 23,749 shares of the financial services provider’s stock valued at $1,091,000 after acquiring an additional 307 shares during the period. Mather Group LLC. grew its position in Ally Financial by 54.4% during the third quarter. Mather Group LLC. now owns 1,192 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 420 shares during the period. Finally, Elevation Wealth Partners LLC grew its position in Ally Financial by 92.2% during the third quarter. Elevation Wealth Partners LLC now owns 1,005 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 482 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $38.14 on Friday. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The business has a 50 day moving average price of $39.78 and a two-hundred day moving average price of $41.92. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.45. The firm has a market cap of $11.60 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 0.33 and a beta of 1.11.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data 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. Ally Financial had a return on equity of 12.11% and a net margin of 16.84%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $1.15 EPS. Ally Financial’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Ally Financial Inc. will post 4.99 earnings per share for the current fiscal year.

Ally Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 2nd. This is an increase from Ally Financial’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.7%. Ally Financial’s dividend payout ratio is 27.52%.

Insiders Place Their Bets

In related news, insider Stephanie Richard sold 5,000 shares of Ally Financial stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the sale, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathleen Patterson sold 12,831 shares of the company’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $38.65, for a total transaction of $495,918.15. Following the completion of the sale, the insider directly owned 67,781 shares in the company, valued at $2,619,735.65. This represents a 15.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ALLY has been the topic of a number of research reports. Bank of America raised their price objective on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Citigroup decreased their target price on Ally Financial from $58.00 to $50.00 and set a “buy” rating for the company in a report on Friday, September 25th. Wells Fargo & Company downgraded shares of Ally Financial from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $55.00 to $42.00 in a research report on Wednesday, September 30th. Evercore set a $40.00 target price on shares of Ally Financial in a research report on Wednesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft set a $56.00 price target on shares of Ally Financial in a report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.07.

Ally Financial Company 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.