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

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 588,207 shares of the financial services provider’s stock, valued at approximately $27,028,000. Connor Clark & Lunn Investment Management Ltd. owned 0.19% of Ally Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of ALLY. BlackRock Inc. acquired a new position in Ally Financial in the second quarter valued at about $1,315,659,000. Donald Smith & CO. Inc. acquired a new stake in Ally Financial during the second quarter worth about $172,509,000. Norges Bank acquired a new stake in Ally Financial during the fourth quarter worth about $157,610,000. Wellington Management Group LLP increased its holdings in Ally Financial by 19.5% in the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock valued at $646,347,000 after buying an additional 2,332,610 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Ally Financial in the 2nd quarter valued at about $103,930,000. 88.76% of the stock is currently owned by institutional investors.

Insider Activity at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction on 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 transaction, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Ally Financial Trading Down 1.1%

ALLY opened at $42.45 on Tuesday. The company’s 50 day moving average is $44.76 and its 200-day moving average is $42.64. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market cap of $12.91 billion, a P/E ratio of 10.01, a PEG ratio of 0.27 and a beta of 1.10.

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

Ally Financial Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on ALLY shares. Wells Fargo & Company increased their price target on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Bank of America upped their target price on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Truist Financial decreased their price target on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Citigroup lowered their price target on Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.64.

Ally Financial 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.