Wellington Management Group LLP Lowers Stake in Ally Financial Inc. $ALLY

Wellington Management Group LLP cut its holdings in Ally Financial Inc. (NYSE:ALLY) by 9.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,308,012 shares of the financial services provider’s stock after selling 1,050,896 shares during the quarter. Wellington Management Group LLP owned about 3.39% of Ally Financial worth $473,653,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fideuram Asset Management Ireland dac purchased a new position in shares of Ally Financial during the fourth quarter worth about $35,000. Trust Co. of Vermont acquired a new position in Ally Financial in the 2nd quarter valued at about $36,000. Safe Harbor Fiduciary LLC purchased a new stake in Ally Financial during the 4th quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd purchased a new stake in Ally Financial during the 4th quarter valued at approximately $38,000. Finally, SJS Investment Consulting Inc. lifted its position in Ally Financial by 30.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 240 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Citigroup decreased their price target on Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Bank of America lifted their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Wells Fargo & Company boosted their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Truist Financial cut their price objective on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.64.

Insider Buying and Selling at Ally Financial

In related news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the sale, the insider directly owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $42.20 on Friday. The company has a market cap of $12.84 billion, a P/E ratio of 9.95, a P/E/G ratio of 0.26 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29. The business has a fifty day simple moving average of $44.52 and a 200-day simple moving average of $42.63.

Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the company posted $0.99 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, July 31st. Ally Financial’s dividend payout ratio is presently 28.30%.

About Ally Financial

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.