DNB Asset Management AS increases its stake in Ally Financial Inc. (NYSE: ALLY)
DNB Asset Management AS increased its stake in Ally Financial Inc. (NYSE: ALLY – Get Rating) by 6.2% during Q1, HoldingsChannel reports. The company held 76,497 shares of the financial services provider after acquiring an additional 4,459 shares during the quarter. DNB Asset Management AS’s holdings in Ally Financial were worth $3,326,000 when it last filed with the SEC.
A number of other large investors have also recently increased or reduced their stakes in ALLY. Concord Wealth Partners increased its position in Ally Financial by 109.7% in the fourth quarter. Concord Wealth Partners now owns 646 shares of the financial services provider valued at $31,000 after purchasing an additional 338 shares during the period. Covestor Ltd purchased a new stake in shares of Ally Financial during the fourth quarter for a value of approximately $43,000. Missouri Trust & Investment Co purchased a new stake in Ally Financial stock during the fourth quarter worth approximately $52,000. Geneos Wealth Management Inc. increased its position in Ally Financial shares by 54.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,485 shares of the financial services provider worth $70,000 after acquiring 524 additional shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Ally Financial shares by 66.3% during the fourth quarter. Van ECK Associates Corp now owns 2,199 shares of the financial services provider worth $105,000 after acquiring 877 additional shares in the last quarter. 94.42% of the shares are currently held by institutional investors.
Shares of ALLY opened at $33.49 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a leverage ratio of 1.21. The company has a 50-day moving average of $39.86 and a two-hundred-day moving average of $44.44. Ally Financial Inc. has a 52-week low of $31.66 and a 52-week high of $56.28. The company has a market capitalization of $10.82 billion, a P/E ratio of 4.21, a PEG ratio of 0.13 and a beta of 1.32.
Ally Financial (NYSE:ALLY – Get Rating) last released its results on Thursday, April 14. The financial services provider reported EPS of $2.03 for the quarter, beating consensus analyst estimates of $1.93 by $0.10. Ally Financial had a return on equity of 21.56% and a net margin of 34.73%. The company posted revenue of $2.14 billion in the quarter, versus a consensus estimate of $2.13 billion. In the same period a year earlier, the company posted earnings per share of $2.09. Ally Financial’s quarterly revenue increased 10.2% from the same quarter last year. Analysts expect Ally Financial Inc. to post EPS of 7.71 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 16. Shareholders of record on Monday, May 2 received a dividend of $0.30. The ex-dividend date was Friday, April 29. This represents a dividend of $1.20 on an annualized basis and a yield of 3.58%. Ally Financial’s payout ratio is currently 15.09%.
ALLY has been the subject of several analyst reports. Wells Fargo & Company lowered its price target on Ally Financial from $57.00 to $50.00 and set an “overweight” rating on the stock in a Monday, April 18 research report. StockNews.com launched coverage on Ally Financial in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. Raymond James lowered his price target on Ally Financial from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, April 18. Morgan Stanley lowered its price target on Ally Financial from $73.00 to $55.00 and set an “overweight” rating on the stock in a Monday, March 28 research report. Finally, Piper Sandler lowered her price target on Ally Financial from $54.00 to $47.00 and set a “neutral” rating for the company in a Monday, April 18 report. Four investment analysts gave the stock a hold rating and nine gave the company a buy rating. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.36.
In other Ally Financial news, insider Jason E. Schugel sold 2,500 shares of Ally Financial in a trade that took place on Tuesday, April 19. The stock was sold at an average price of $45.00, for a total value of $112,500.00. Following the completion of the transaction, the insider now directly owns 82,476 shares of the company, valued at $3,711,420. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Insiders own 0.57% of the shares of the company.
Ally Financial Company Profile (Get a rating)
Ally Financial Inc, a digital financial services company, provides various digital financial products and services to consumers, businesses and enterprises primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations and Corporate Finance Operations.
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