Charles Schwab Investment Management Inc. Has $83.52 Million Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Charles Schwab Investment Management Inc. trimmed its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,319,287 shares of the financial services provider’s stock after selling 10,888 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.76% of Ally Financial worth $83,518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its position in Ally Financial by 1.9% in the 3rd quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock valued at $557,000 after acquiring an additional 293 shares during the period. Maverick Capital Ltd. increased its position in Ally Financial by 1.2% in the 3rd quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider’s stock valued at $930,000 after acquiring an additional 299 shares during the period. Waterfront Wealth Inc. increased its position in Ally Financial by 0.8% in the 4th quarter. Waterfront Wealth Inc. now owns 50,924 shares of the financial services provider’s stock valued at $1,834,000 after acquiring an additional 389 shares during the period. Principal Securities Inc. increased its position in Ally Financial by 89.4% in the 4th quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 496 shares during the period. Finally, Venturi Wealth Management LLC increased its position in Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 577 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Ally Financial Stock Performance

Shares of ALLY stock opened at $33.53 on Tuesday. The firm has a 50-day moving average of $37.17 and a 200-day moving average of $36.88. The company has a market cap of $10.30 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.32 and a beta of 1.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. Ally Financial Inc. has a one year low of $31.95 and a one year high of $45.46.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.57 by $0.21. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.02 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.30 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.58%. Ally Financial’s dividend payout ratio is currently 46.15%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Truist Financial upped their price objective on shares of Ally Financial from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. StockNews.com lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Morgan Stanley upped their price objective on shares of Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Ally Financial currently has an average rating of “Hold” and a consensus target price of $43.76.

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.