Public Employees Retirement System of Ohio Makes New Investment in Ally Financial Inc. $ALLY

Public Employees Retirement System of Ohio purchased a new position in Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 96,634 shares of the financial services provider’s stock, valued at approximately $4,440,000.

Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Ally Financial during the 2nd quarter worth about $1,315,659,000. Berkshire Hathaway Inc purchased a new position in Ally Financial during the 2nd quarter valued at about $1,240,650,000. Donald Smith & CO. Inc. bought a new stake in shares of Ally Financial during the second quarter valued at about $172,509,000. Norges Bank bought a new stake in shares of Ally Financial during the fourth quarter valued at about $157,610,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Ally Financial by 19.5% in the fourth 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. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ALLY. Bank of America raised 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. Weiss Ratings raised shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $58.00 target price on shares of Ally Financial in a research note on Wednesday, July 22nd. Citigroup cut their price target on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Ally Financial presently has an average rating of “Moderate Buy” and a consensus target price of $53.73.

Ally Financial Trading Up 2.0%

Shares of ALLY opened at $42.69 on Thursday. The firm’s 50 day simple moving average is $44.32 and its 200 day simple moving average is $42.65. The company has a market capitalization of $12.99 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.26 and a beta of 1.09. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29.

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

Ally Financial Dividend Announcement

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

Insider Buying and Selling

In related news, insider Stephanie N. Richard sold 5,000 shares of the 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 transaction, the insider owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This 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 through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Ally Financial 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.