Perpetual Ltd Purchases New Shares in Ally Financial Inc. (NYSE:ALLY)

Posted by Defense World Staff on Aug 10th, 2023

Perpetual Ltd acquired a new position in Ally Financial Inc. (NYSE:ALLY – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,720 shares of the financial services provider’s stock, valued at approximately $248,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Schroder Investment Management Group boosted its stake in Ally Financial by 10.8% during the fourth quarter. Schroder Investment Management Group now owns 25,609 shares of the financial services provider’s stock worth $626,000 after acquiring an additional 2,497 shares in the last quarter. Balentine LLC bought a new position in shares of Ally Financial during the fourth quarter valued at $884,000. CI Investments Inc. raised its position in shares of Ally Financial by 57.3% in the 4th quarter. CI Investments Inc. now owns 3,557 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,296 shares during the last quarter. Parallel Advisors LLC grew its position in Ally Financial by 15.2% during the 1st quarter. Parallel Advisors LLC now owns 4,860 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 641 shares during the last quarter. Finally, Mutual Advisors LLC increased its stake in Ally Financial by 1.1% during the 1st quarter. Mutual Advisors LLC now owns 48,409 shares of the financial services provider’s stock valued at $1,234,000 after purchasing an additional 509 shares in the last quarter. 87.94% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Stock Down 2.1 %

Shares of NYSE:ALLY opened at $28.91 on Thursday. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 7.90 and a beta of 1.34. Ally Financial Inc. has a 12 month low of $21.58 and a 12 month high of $37.88. The company has a 50-day moving average price of $28.14 and a 200 day moving average price of $27.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.80.

Ally Financial (NYSE:ALLY – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.02. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.09 billion. Ally Financial had a return on equity of 12.34% and a net margin of 14.59%. Ally Financial’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.76 EPS. As a group, equities research analysts predict that Ally Financial Inc. will post 3.27 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.15%. Ally Financial’s dividend payout ratio is presently 32.79%.

Wall Street Analysts Forecast Growth

ALLY has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price target on shares of Ally Financial from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, July 20th. Piper Sandler lifted their target price on Ally Financial from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 20th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Ally Financial in a research note on Thursday, July 20th. Stephens lifted their price target on shares of Ally Financial from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 20th. Finally, StockNews.com initiated coverage on shares of Ally Financial in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ally Financial currently has an average rating of “Hold” and an average price target of $31.28.

Get Our Latest Stock Report on ALLY

Ally Financial Profile

(Free Report)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.