Bessemer Group Inc. Sells 1,638 Shares of Ally Financial Inc. (NYSE:ALLY)

Posted by Defense World Staff on Aug 22nd, 2023

Bessemer Group Inc. lowered its position in shares of Ally Financial Inc. (NYSE:ALLY – Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,494 shares of the financial services provider’s stock after selling 1,638 shares during the period. Bessemer Group Inc.’s holdings in Ally Financial were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kinneret Advisory LLC grew its position in Ally Financial by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 11,700 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 262 shares during the period. Blair William & Co. IL grew its position in Ally Financial by 2.6% in the 1st quarter. Blair William & Co. IL now owns 10,497 shares of the financial services provider’s stock worth $456,000 after purchasing an additional 264 shares during the period. Quadrant Capital Group LLC grew its position in Ally Financial by 12.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,863 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 327 shares during the period. Salem Investment Counselors Inc. grew its position in Ally Financial by 115.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 345 shares during the period. Finally, EP Wealth Advisors LLC grew its position in Ally Financial by 8.2% in the 1st quarter. EP Wealth Advisors LLC now owns 4,656 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 354 shares during the period. Institutional investors own 87.94% of the company’s stock.

Ally Financial Stock Down 0.3 %

Shares of NYSE:ALLY opened at $27.16 on Tuesday. 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 Inc. has a 12 month low of $21.58 and a 12 month high of $36.20. The company has a 50-day moving average price of $28.09 and a 200 day moving average price of $27.59. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 7.42 and a beta of 1.34.

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

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.42%. The ex-dividend date was Monday, July 31st. Ally Financial’s payout ratio is currently 32.79%.

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Ally Financial in a research report on Thursday, July 20th. Odeon Capital Group began coverage on shares of Ally Financial in a research report on Monday, June 12th. They issued a “sell” rating and a $25.00 target price for the company. BMO Capital Markets cut their price objective on shares of Ally Financial from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, July 20th. Morgan Stanley boosted their price objective on shares of Ally Financial from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Friday, July 21st. Finally, Citigroup cut their price objective on shares of Ally Financial from $40.00 to $37.00 in a research report on Friday, July 7th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ally Financial presently has an average rating of “Hold” and a consensus target price 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.