Berkshire Hathaway Inc Purchases Shares of 27,000,000 Ally Financial Inc. $ALLY

Berkshire Hathaway Inc acquired a new stake in shares of Ally Financial Inc. (NYSE:ALLY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 27,000,000 shares of the financial services provider’s stock, valued at approximately $1,240,650,000. Ally Financial comprises about 0.4% of Berkshire Hathaway Inc’s holdings, making the stock its 17th biggest holding. Berkshire Hathaway Inc owned 0.09% of Ally Financial at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Ally Financial during the 4th quarter valued at about $29,000. Fideuram Asset Management Ireland dac bought a new position in Ally Financial during the 4th quarter worth approximately $35,000. Trust Co. of Vermont purchased a new position in Ally Financial in the 2nd quarter worth approximately $36,000. Safe Harbor Fiduciary LLC purchased a new position in Ally Financial in the 4th quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Ally Financial in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the transaction, the insider directly owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Ally Financial Price Performance

Shares of ALLY stock opened at $42.58 on Thursday. The firm has a market cap of $12.95 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.26 and a beta of 1.10. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The business’s 50 day moving average price is $44.64 and its 200-day moving average price is $42.63. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last posted its 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 for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm posted $0.99 earnings per share. On average, equities research analysts anticipate that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued 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%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings raised shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Truist Financial lowered their price target on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $58.00 price target on shares of Ally Financial in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company raised their price target on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and an average price target of $53.64.

About Ally Financial

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.