Healthcare of Ontario Pension Plan Trust Fund Invests $2.46 Million in Ally Financial Inc. $ALLY

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Ally Financial Inc. (NYSE:ALLY) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 62,800 shares of the financial services provider’s stock, valued at approximately $2,464,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal Bank of Canada increased its holdings in Ally Financial by 106.5% during the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock valued at $9,158,000 after purchasing an additional 129,497 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Ally Financial by 22.8% in the first 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 in the last quarter. Empowered Funds LLC boosted its stake in Ally Financial by 11.1% in the first 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 in the last quarter. Focus Partners Wealth bought a new stake in shares of Ally Financial during the first quarter worth $259,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Ally Financial by 374.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,166 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Trading Down 0.3%

Shares of NYSE ALLY opened at $43.37 on Friday. The company’s 50 day simple moving average is $44.44 and its 200 day simple moving average is $42.52. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The firm has a market capitalization of $13.19 billion, a P/E ratio of 10.23, a P/E/G ratio of 0.27 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 (NYSE:ALLY) last released its 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 business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.Ally Financial’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. On average, analysts predict 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 will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Ally Financial’s payout ratio is 28.30%.

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Ally Financial from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Evercore reissued an “outperform” rating and set a $54.00 price objective on shares of Ally Financial in a report on Tuesday, April 21st. Bank of America boosted their target price on shares of Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $58.00 target price on shares of Ally Financial in a research report on Wednesday, July 22nd. Finally, Truist Financial set a $54.00 price target on shares of Ally Financial in a report on Tuesday, April 21st. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and an average price target of $53.86.

Insider Buying and Selling

In related news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the completion of the sale, the insider owned 93,927 shares in the company, valued at approximately $3,958,083.78. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

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.