Credit Suisse AG Sells 42,466 Shares of Ally Financial Inc. (NYSE:ALLY)

Posted by Defense World Staff on Jun 8th, 2023

Credit Suisse AG reduced its position in shares of Ally Financial Inc. (NYSE:ALLY – Get Rating) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 840,784 shares of the financial services provider’s stock after selling 42,466 shares during the quarter. Credit Suisse AG owned about 0.28% of Ally Financial worth $20,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALLY. State Street Corp grew its position in shares of Ally Financial by 3.3% during the 1st quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock worth $380,424,000 after buying an additional 281,795 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Ally Financial by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,811,033 shares of the financial services provider’s stock valued at $166,526,000 after purchasing an additional 284,202 shares during the period. Royal Bank of Canada grew its position in shares of Ally Financial by 5.6% in the 1st quarter. Royal Bank of Canada now owns 6,035,703 shares of the financial services provider’s stock valued at $262,433,000 after purchasing an additional 320,049 shares during the period. Magnolia Group LLC grew its position in shares of Ally Financial by 9.4% in the 4th quarter. Magnolia Group LLC now owns 3,407,000 shares of the financial services provider’s stock valued at $83,301,000 after purchasing an additional 292,000 shares during the period. Finally, Glendon Capital Management LP grew its position in shares of Ally Financial by 1.5% in the 1st quarter. Glendon Capital Management LP now owns 2,485,472 shares of the financial services provider’s stock valued at $108,068,000 after purchasing an additional 37,083 shares during the period. 90.35% of the stock is owned by institutional investors.

Ally Financial Stock Up 1.2 %

ALLY opened at $28.53 on Thursday. Ally Financial Inc. has a 1-year low of $21.58 and a 1-year high of $42.81. The stock’s fifty day simple moving average is $26.23 and its 200 day simple moving average is $27.09. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.85. The stock has a market cap of $8.58 billion, a PE ratio of 7.01 and a beta of 1.34.

Ally Financial (NYSE:ALLY – Get Rating) last released its earnings results on Wednesday, April 19th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.06). The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.07 billion. Ally Financial had a return on equity of 14.79% and a net margin of 16.42%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $2.03 earnings per share. As a group, research analysts expect that Ally Financial Inc. will post 3.51 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Friday, April 28th. Ally Financial’s dividend payout ratio (DPR) is currently 29.48%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALLY. Barclays decreased their price objective on Ally Financial from $35.00 to $34.00 in a research report on Wednesday, April 12th. Morgan Stanley reduced their price target on Ally Financial from $25.00 to $22.00 and set an “underweight” rating for the company in a research report on Wednesday, April 5th. StockNews.com initiated coverage on Ally Financial in a research report on Thursday, May 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. reduced their price target on Ally Financial from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, April 17th. Finally, Piper Sandler upped their price target on Ally Financial from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, April 20th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Ally Financial presently has a consensus rating of “Hold” and an average target price of $34.87.

Ally Financial Profile

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Ally Financial, Inc engages in the provision of online banking, securities brokerage, and investment advisory services. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, Corporate Finance Operations, and Corporate and Other. The Automotive Finance Operations segment offers retail installment sales contracts, loans, and operating leases, offering term loans to dealers, financing dealer floor plans and other lines of credit to dealers, warehouse lines to automotive retailers, fleet financing, providing financing to companies and municipalities for the purchase or lease of vehicles, and vehicle-remarketing services.

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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