AMF Tjanstepension AB Buys New Stake in Ally Financial Inc. (NYSE:ALLY)

AMF Tjanstepension AB bought a new stake in shares of Ally Financial Inc. (NYSE:ALLY) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 296,824 shares of the financial services provider’s stock, valued at approximately $12,048,000. AMF Tjanstepension AB owned about 0.10% of Ally Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its stake in Ally Financial by 47.1% during the 3rd quarter. FMR LLC now owns 3,316,501 shares of the financial services provider’s stock valued at $88,484,000 after purchasing an additional 1,061,651 shares in the last quarter. Invesco Ltd. increased its stake in shares of Ally Financial by 42.3% in the third quarter. Invesco Ltd. now owns 1,068,079 shares of the financial services provider’s stock worth $28,496,000 after acquiring an additional 317,510 shares during the period. Federated Hermes Inc. increased its stake in shares of Ally Financial by 170.5% in the third quarter. Federated Hermes Inc. now owns 58,285 shares of the financial services provider’s stock worth $1,555,000 after acquiring an additional 36,739 shares during the period. Northern Trust Corp increased its stake in shares of Ally Financial by 34.2% in the third quarter. Northern Trust Corp now owns 3,122,515 shares of the financial services provider’s stock worth $83,309,000 after acquiring an additional 795,754 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of Ally Financial by 7.1% in the third quarter. Treasurer of the State of North Carolina now owns 134,927 shares of the financial services provider’s stock worth $3,600,000 after acquiring an additional 8,955 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ALLY shares. Citigroup started coverage on shares of Ally Financial in a research note on Monday, June 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Evercore ISI increased their price objective on shares of Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Tuesday. Compass Point increased their price objective on shares of Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. StockNews.com upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, TD Cowen raised their price target on shares of Ally Financial from $42.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.00.

Ally Financial Price Performance

Shares of ALLY stock opened at $39.65 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s 50-day moving average is $39.31 and its two-hundred day moving average is $37.41. Ally Financial Inc. has a 12 month low of $22.54 and a 12 month high of $41.77. The company has a market capitalization of $12.05 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 0.48 and a beta of 1.41.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts predict that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, April 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.03%. Ally Financial’s dividend payout ratio is presently 48.98%.

Ally Financial Company Profile

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.