Van ECK Associates Corp Acquires Shares of 2,372 Ally Financial Inc. (NYSE:ALLY)

Van ECK Associates Corp acquired a new stake in Ally Financial Inc. (NYSE:ALLY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,372 shares of the financial services provider’s stock, valued at approximately $85,000.

Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its holdings in Ally Financial by 153.9% in the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 577 shares during the period. Allworth Financial LP grew its holdings in Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 421 shares during the period. UMB Bank n.a. boosted its stake in shares of Ally Financial by 218.8% in the fourth quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,061 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Ally Financial in the third quarter worth approximately $63,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Ally Financial by 65,375.0% in the third quarter. Rakuten Securities Inc. now owns 2,619 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 2,615 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Price Performance

Shares of Ally Financial stock opened at $37.51 on Monday. The business’s fifty day moving average price is $37.16 and its 200 day moving average price is $37.32. The stock has a market capitalization of $11.52 billion, a P/E ratio of 14.43, a PEG ratio of 0.34 and a beta of 1.45. Ally Financial Inc. has a twelve month low of $31.95 and a twelve month high of $45.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.02 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, research analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.20%. Ally Financial’s dividend payout ratio is presently 46.15%.

Insider Transactions at Ally Financial

In related news, CFO Russell E. Hutchinson acquired 19,100 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was bought at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the transaction, the chief financial officer now owns 202,845 shares of the company’s stock, valued at approximately $8,002,235.25. The trade was a 10.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael George Rhodes bought 25,634 shares of the business’s stock in a transaction on Monday, January 27th. The shares were purchased at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the completion of the purchase, the chief executive officer now owns 25,634 shares in the company, valued at approximately $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com lowered Ally Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Citigroup lifted their price target on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Truist Financial lifted their price target on Ally Financial from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their price target on Ally Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group lifted their price objective on Ally Financial from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Ally Financial has an average rating of “Hold” and an average price target of $43.76.

Ally Financial 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.