Russell Investments Group Ltd. Buys 95,149 Shares of Ally Financial Inc. $ALLY

Russell Investments Group Ltd. increased its stake in Ally Financial Inc. (NYSE:ALLY) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,010,292 shares of the financial services provider’s stock after buying an additional 95,149 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.33% of Ally Financial worth $39,604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada lifted its stake in Ally Financial by 106.5% in the first quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock valued at $9,158,000 after acquiring an additional 129,497 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Ally Financial by 22.8% during the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 415 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Ally Financial by 11.1% during the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 1,292 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Ally Financial in the 1st quarter valued at about $259,000. Finally, ProShare Advisors LLC raised its holdings in shares of Ally Financial by 4.7% in the 2nd quarter. ProShare Advisors LLC now owns 12,257 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 547 shares during the period. 88.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley set a $53.00 price target on Ally Financial and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Wells Fargo & Company upgraded Ally Financial from a “hold” rating to an “overweight” rating in a research note on Wednesday, December 17th. JPMorgan Chase & Co. raised their price objective on Ally Financial from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Truist Financial reduced their target price on Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Finally, Barclays boosted their target price on Ally Financial from $44.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.31.

Insider Activity at Ally Financial

In related news, CEO Michael George Rhodes purchased 23,800 shares of Ally Financial stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average price of $41.68 per share, with a total value of $991,984.00. Following the completion of the transaction, the chief executive officer directly owned 49,434 shares of the company’s stock, valued at $2,060,409.12. This represents a 92.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Russell E. Hutchinson acquired 11,566 shares of the stock in a transaction on Tuesday, January 27th. The shares were bought at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the purchase, the chief financial officer owned 225,336 shares in the company, valued at approximately $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.67% of the company’s stock.

Ally Financial Price Performance

NYSE:ALLY opened at $36.82 on Thursday. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $47.27. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s 50-day simple moving average is $42.16 and its 200 day simple moving average is $41.66. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 0.19 and a beta of 1.18.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, February 2nd. Ally Financial’s payout ratio is presently 51.06%.

Ally Financial declared that its Board of Directors has approved a share buyback program on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 15.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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.