Retirement Systems of Alabama Raises Stock Holdings in Ally Financial Inc. (NYSE:ALLY)

Retirement Systems of Alabama grew its holdings in Ally Financial Inc. (NYSE:ALLY) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 333,457 shares of the financial services provider’s stock after buying an additional 364 shares during the quarter. Retirement Systems of Alabama owned 0.11% of Ally Financial worth $12,008,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in Ally Financial during the second quarter worth $702,000. Diversified Trust Co acquired a new position in shares of Ally Financial during the 3rd quarter worth about $304,000. USA Financial Formulas purchased a new position in Ally Financial in the 3rd quarter valued at about $201,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Ally Financial by 28.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,600 shares of the financial services provider’s stock worth $697,000 after buying an additional 4,400 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in Ally Financial by 584.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock worth $49,659,000 after buying an additional 1,191,529 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Insider Activity at Ally Financial

In related news, CEO Michael George Rhodes purchased 25,634 shares of the business’s stock in a transaction on Monday, January 27th. The shares were bought at an average price of $39.09 per share, for a total transaction of $1,002,033.06. Following the acquisition, the chief executive officer now directly owns 25,634 shares in the company, valued at $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Russell E. Hutchinson acquired 19,100 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was bought at an average price of $39.45 per share, with a total value of $753,495.00. Following the purchase, the chief financial officer now directly owns 202,845 shares in the company, valued at approximately $8,002,235.25. This trade represents a 10.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

Ally Financial Stock Performance

NYSE:ALLY opened at $38.29 on Friday. The stock has a market capitalization of $11.67 billion, a P/E ratio of 14.73, a PEG ratio of 0.43 and a beta of 1.45. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93. Ally Financial Inc. has a fifty-two week low of $31.95 and a fifty-two week high of $45.46. The company has a 50 day moving average price of $37.25 and a 200 day moving average price of $37.70.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Equities research analysts forecast that Ally Financial Inc. will post 3.7 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, January 31st. Ally Financial’s payout ratio is 46.15%.

Wall Street Analysts Forecast Growth

ALLY has been the topic of a number of research analyst reports. Wolfe Research lowered Ally Financial from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. The Goldman Sachs Group increased their target price on shares of Ally Financial from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada boosted their price target on shares of Ally Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, StockNews.com cut Ally Financial from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.76.

About Ally Financial

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.