Oppenheimer Asset Management Inc. Boosts Stock Position in Ally Financial Inc. (NYSE:ALLY)

Oppenheimer Asset Management Inc. raised its position in Ally Financial Inc. (NYSE:ALLY) by 1.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 108,583 shares of the financial services provider’s stock after buying an additional 1,679 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ally Financial were worth $3,910,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its stake in Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after buying an additional 577 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Ally Financial by 89.4% during the 4th quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 496 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Ally Financial in the fourth quarter worth approximately $43,000. Allworth Financial LP grew its holdings in Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 421 shares during the period. Finally, UMB Bank n.a. increased its position in Ally Financial by 218.8% during the fourth quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,061 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Stock Performance

Ally Financial stock opened at $37.12 on Friday. Ally Financial Inc. has a 12-month low of $31.95 and a 12-month high of $45.46. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 0.32 and a beta of 1.45. The firm’s fifty day moving average price is $37.28 and its 200 day moving average price is $37.21.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, January 31st. Ally Financial’s dividend payout ratio (DPR) is currently 46.15%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada lifted their target price on Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Jefferies Financial Group upped their price target on Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Barclays raised their price objective on Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Truist Financial boosted their target price on Ally Financial from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.76.

Insider Activity

In related news, CFO Russell E. Hutchinson purchased 19,100 shares of Ally Financial stock in a transaction dated Friday, January 24th. The shares were acquired at an average price of $39.45 per share, with a total value of $753,495.00. Following the completion of the transaction, the chief financial officer now owns 202,845 shares of the company’s stock, valued at approximately $8,002,235.25. This trade represents a 10.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael George Rhodes purchased 25,634 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was purchased at an average price of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the purchase, the chief executive officer now directly owns 25,634 shares of the company’s stock, valued at approximately $1,002,033.06. This represents a ∞ 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 Company Profile

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.