Cidel Asset Management Inc. Reduces Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Cidel Asset Management Inc. lessened its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,668 shares of the financial services provider’s stock after selling 415 shares during the period. Cidel Asset Management Inc.’s holdings in Ally Financial were worth $204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trilogy Capital Inc. lifted its holdings in Ally Financial by 5.3% in the fourth quarter. Trilogy Capital Inc. now owns 76,354 shares of the financial services provider’s stock valued at $2,750,000 after acquiring an additional 3,816 shares during the period. Private Management Group Inc. lifted its stake in shares of Ally Financial by 3.5% in the 4th quarter. Private Management Group Inc. now owns 747,194 shares of the financial services provider’s stock valued at $26,906,000 after purchasing an additional 25,501 shares during the period. Econ Financial Services Corp purchased a new stake in Ally Financial during the fourth quarter worth $783,000. abrdn plc grew its position in Ally Financial by 0.5% during the fourth quarter. abrdn plc now owns 269,964 shares of the financial services provider’s stock valued at $9,748,000 after buying an additional 1,454 shares during the period. Finally, Asset Management Advisors LLC increased its holdings in Ally Financial by 1.5% in the fourth quarter. Asset Management Advisors LLC now owns 167,080 shares of the financial services provider’s stock valued at $6,017,000 after buying an additional 2,520 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Russell E. Hutchinson bought 19,100 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at $8,002,235.25. This represents a 10.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael George Rhodes bought 25,634 shares of the stock in a transaction on Monday, January 27th. The shares were bought at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the purchase, the chief executive officer now owns 25,634 shares of the company’s stock, valued at $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays increased their target price on shares of Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Royal Bank of Canada raised their price objective on Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. The Goldman Sachs Group upped their target price on Ally Financial from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. StockNews.com cut shares of Ally Financial from a “buy” rating to a “hold” 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 stock an “overweight” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Ally Financial has a consensus rating of “Hold” and a consensus price target of $43.76.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $38.29 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50 day moving average price is $37.22 and its 200 day moving average price is $37.64. The company has a market cap of $11.67 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.43 and a beta of 1.45. 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 quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.21. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the company posted $0.45 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. On average, research analysts predict that Ally Financial Inc. will post 3.69 EPS for the current year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.13%. Ally Financial’s dividend payout ratio is currently 46.15%.

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.