Lakewood Capital Management LP Makes New $80.82 Million Investment in Ally Financial Inc. $ALLY

Lakewood Capital Management LP bought a new stake in shares of Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,758,809 shares of the financial services provider’s stock, valued at approximately $80,817,000. Ally Financial comprises approximately 4.2% of Lakewood Capital Management LP’s portfolio, making the stock its 4th biggest holding. Lakewood Capital Management LP owned about 0.58% of Ally Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Ally Financial during the second quarter valued at $1,315,659,000. Donald Smith & CO. Inc. bought a new position in Ally Financial during the second quarter valued at $172,509,000. Norges Bank bought a new position in Ally Financial during the fourth quarter valued at $157,610,000. Wellington Management Group LLP grew its stake in shares of Ally Financial by 19.5% in the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock worth $646,347,000 after buying an additional 2,332,610 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Ally Financial in the 2nd quarter worth $103,930,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Stock Performance

Shares of NYSE:ALLY opened at $42.45 on Tuesday. The firm has a market cap of $12.91 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10. The firm’s 50 day simple moving average is $44.76 and its 200-day simple moving average is $42.64. Ally Financial Inc. has a one year low of $35.92 and a one year high of $47.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Ally Financial’s payout ratio is 28.30%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ALLY shares. Wall Street Zen cut shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Bank of America lifted their price target on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Royal Bank Of Canada upped their price objective on Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Finally, Truist Financial lowered their price objective on Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.64.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the sale, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.