OLD National Bancorp IN Lowers Holdings in Ally Financial Inc. $ALLY

OLD National Bancorp IN lowered its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 24.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 420,204 shares of the financial services provider’s stock after selling 135,458 shares during the quarter. OLD National Bancorp IN’s holdings in Ally Financial were worth $16,485,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALLY. Louisiana State Employees Retirement System bought a new stake in Ally Financial during the 1st quarter valued at approximately $3,193,000. Kestra Private Wealth Services LLC boosted its stake in Ally Financial by 4.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 235,601 shares of the financial services provider’s stock worth $9,243,000 after purchasing an additional 9,215 shares during the period. BTC Capital Management Inc. grew its holdings in Ally Financial by 23.7% during the 1st quarter. BTC Capital Management Inc. now owns 32,284 shares of the financial services provider’s stock valued at $1,266,000 after buying an additional 6,179 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in Ally Financial by 3.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider’s stock valued at $314,000 after buying an additional 243 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Ally Financial by 5,026.4% during the first quarter. Assenagon Asset Management S.A. now owns 509,975 shares of the financial services provider’s stock valued at $20,006,000 after buying an additional 500,027 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

ALLY has been the topic of several research analyst reports. Barclays boosted their target price on shares of Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Morgan Stanley lifted their price target on shares of Ally Financial from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Truist Financial set a $54.00 price target on shares of Ally Financial in a research note on Tuesday, April 21st. JPMorgan Chase & Co. dropped their price objective on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and a consensus target price of $53.29.

Ally Financial Trading Up 1.5%

ALLY stock opened at $46.24 on Friday. The firm has a fifty day moving average price of $43.63 and a 200 day moving average price of $42.57. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.27. The firm has a market cap of $14.17 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.93.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share. Ally Financial’s revenue was up 36.4% on a year-over-year basis. Sell-side analysts anticipate that Ally Financial Inc. will post 5.26 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, May 1st. Ally Financial’s dividend payout ratio is currently 29.27%.

Insider Activity

In related news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction dated 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 owned 93,927 shares in the company, valued at approximately $3,958,083.78. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas R. Timmerman sold 39,675 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $45.17, for a total value of $1,792,119.75. Following the sale, the insider directly owned 477,627 shares in the company, valued at $21,574,411.59. The trade was a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.46% of the stock is currently owned by corporate insiders.

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.