Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in Ally Financial Inc. $ALLY

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 588,207 shares of the financial services provider’s stock, valued at approximately $27,028,000.

Several other hedge funds have also added to or reduced their stakes in the business. SJS Investment Consulting Inc. grew its holdings 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 last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of Ally Financial by 3.1% during the first quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider’s stock valued at $314,000 after acquiring an additional 243 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Ally Financial by 31.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,052 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 252 shares during the period. Triumph Capital Management lifted its holdings in shares of Ally Financial by 9.2% during the fourth quarter. Triumph Capital Management now owns 3,133 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 265 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Ally Financial by 25.0% in the fourth quarter. Larson Financial Group LLC now owns 1,340 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 268 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Stock Down 1.1%

Shares of Ally Financial stock opened at $42.45 on Tuesday. 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 current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50-day moving average is $44.76 and its 200 day moving average is $42.64. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.27 and a beta of 1.10.

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

Ally Financial Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction dated 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 $3,933,241.21. This trade represents a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ALLY shares. Bank of America increased their price objective on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $58.00 price target on shares of Ally Financial in a research report on Wednesday, July 22nd. Truist Financial decreased their price target 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. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Finally, Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Ally Financial has an average rating of “Moderate Buy” and a consensus price target of $53.64.

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.