Wedge Capital Management L L P NC Has $44.22 Million Holdings in Ally Financial Inc. (NYSE:ALLY)

Wedge Capital Management L L P NC lowered its position in shares of Ally Financial Inc. (NYSE:ALLY) by 5.9% in the first quarter, HoldingsChannel reports. The fund owned 1,212,564 shares of the financial services provider’s stock after selling 76,375 shares during the period. Ally Financial makes up 0.9% of Wedge Capital Management L L P NC’s portfolio, making the stock its 27th largest position. Wedge Capital Management L L P NC’s holdings in Ally Financial were worth $44,222,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ALLY. OLD National Bancorp IN boosted its holdings in shares of Ally Financial by 3.7% in the 1st quarter. OLD National Bancorp IN now owns 942,911 shares of the financial services provider’s stock valued at $34,388,000 after buying an additional 33,836 shares during the last quarter. UMB Bank n.a. raised its stake in Ally Financial by 67.1% in the 1st quarter. UMB Bank n.a. now owns 2,583 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 1,037 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in Ally Financial by 4.6% in the 1st quarter. Gateway Investment Advisers LLC now owns 117,184 shares of the financial services provider’s stock valued at $4,274,000 after acquiring an additional 5,205 shares in the last quarter. Fulton Bank N.A. raised its stake in Ally Financial by 3.6% in the first quarter. Fulton Bank N.A. now owns 19,628 shares of the financial services provider’s stock valued at $716,000 after purchasing an additional 687 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of Ally Financial during the 1st quarter worth approximately $276,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Stock Performance

ALLY stock opened at $36.32 on Friday. The firm has a market cap of $11.16 billion, a PE ratio of 13.97, a P/E/G ratio of 0.32 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.51. The business has a 50 day moving average of $33.63 and a 200-day moving average of $35.84. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $45.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.15. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $2.04 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, sell-side analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Thursday, May 1st. Ally Financial’s payout ratio is currently 88.24%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALLY. Truist Financial dropped their price objective on Ally Financial from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on shares of Ally Financial from $34.00 to $32.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. Morgan Stanley lowered their price target on shares of Ally Financial from $45.00 to $39.00 and set an “outperform” rating for the company in a report on Monday, April 7th. For consumer lenders, the Trump Administration’s hardline approach to tariffs is “difficult to ignore” and there’s clearly more downside to the group if tariffs remain near current levels. If tariffs remain in place, risks to growth would skew meaningfully to the downside and risks to inflation to the upside, adds the analyst, who is downgrading the firm’s Consumer Finance industry view to Cautious from Attractive. The Goldman Sachs Group lifted their price objective on Ally Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Finally, BTIG Research downgraded shares of Ally Financial from a “neutral” rating to a “sell” rating and set a $30.00 price target for the company. in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Ally Financial currently has a consensus rating of “Hold” and an average price target of $41.69.

Insider Activity

In other news, CFO Russell E. Hutchinson bought 8,200 shares of the company’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was bought at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the transaction, the chief financial officer now directly owns 236,421 shares of the company’s stock, valued at $7,284,131.01. This represents a 3.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie N. Richard sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $32.14, for a total value of $257,120.00. Following the completion of the sale, the insider now owns 90,387 shares of the company’s stock, valued at $2,905,038.18. The trade was a 8.13% decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

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.