New York Life Investment Management LLC Sells 2,139 Shares of Ally Financial Inc. (NYSE:ALLY)

New York Life Investment Management LLC reduced its holdings in Ally Financial Inc. (NYSE:ALLY) by 6.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,283 shares of the financial services provider’s stock after selling 2,139 shares during the quarter. New York Life Investment Management LLC’s holdings in Ally Financial were worth $1,090,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its position in shares of Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after buying an additional 577 shares during the last quarter. Principal Securities Inc. grew its position in shares of Ally Financial by 89.4% in the 4th quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock worth $38,000 after buying an additional 496 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Ally Financial in the 4th quarter worth approximately $43,000. UMB Bank n.a. grew its position in shares of Ally Financial by 218.8% in the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock worth $56,000 after buying an additional 1,061 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Ally Financial in the 3rd quarter worth approximately $63,000. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Stock Down 5.2 %

Shares of NYSE:ALLY opened at $35.18 on Tuesday. The stock has a fifty day simple moving average of $37.28 and a two-hundred day simple moving average of $37.14. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.32 and a beta of 1.45. Ally Financial Inc. has a 12-month low of $31.95 and a 12-month high of $45.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.21. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, research analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Friday, January 31st. Ally Financial’s dividend payout ratio is currently 46.15%.

Insider Transactions at Ally Financial

In other news, CEO Michael George Rhodes acquired 25,634 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was bought at an average price of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the acquisition, the chief executive officer now directly owns 25,634 shares of the company’s stock, valued at approximately $1,002,033.06. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Russell E. Hutchinson acquired 19,100 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average cost of $39.45 per share, with a total value of $753,495.00. Following the acquisition, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at $8,002,235.25. This trade represents a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

ALLY has been the topic of a number of recent analyst reports. Wolfe Research lowered Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods raised their target price on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Truist Financial raised their target price on Ally Financial from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Morgan Stanley raised their target price on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada raised their target price on Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.76.

Ally Financial Company Profile

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.