2,096,181 Shares in Ally Financial Inc. (NYSE:ALLY) Acquired by Norges Bank

Norges Bank purchased a new position in shares of Ally Financial Inc. (NYSE:ALLY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,096,181 shares of the financial services provider’s stock, valued at approximately $75,483,000.

A number of other large investors also recently modified their holdings of the company. Principal Securities Inc. raised its position 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 in the last quarter. Kestra Investment Management LLC purchased a new position in Ally Financial in the fourth quarter valued at approximately $43,000. UMB Bank n.a. raised its holdings 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 in the last quarter. Harbour Investments Inc. lifted its position in shares of Ally Financial by 38.5% during the 4th quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider’s stock worth $77,000 after buying an additional 595 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in shares of Ally Financial in the 4th quarter valued at $85,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $37.07 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average price of $37.00 and a 200 day moving average price of $36.43. Ally Financial Inc. has a 52 week low of $31.95 and a 52 week high of $45.46. The company has a market cap of $11.39 billion, a P/E ratio of 14.26, a PEG ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share 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 firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. Ally Financial’s quarterly revenue was up 3.6% on a year-over-year basis. Research analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.30 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.24%. Ally Financial’s dividend payout ratio is presently 46.15%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ALLY. Wells Fargo & Company boosted their price target on shares of Ally Financial from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Thursday, January 23rd. Morgan Stanley upped their target price on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Barclays lifted their price target on Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Truist Financial lifted their target price on shares of Ally Financial from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.65.

Insider Activity at Ally Financial

In other news, CFO Russell E. Hutchinson acquired 19,100 shares of Ally Financial stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average cost of $39.45 per share, with a total value of $753,495.00. Following the completion of the acquisition, the chief financial officer now owns 202,845 shares in the company, valued at $8,002,235.25. This trade represents a 10.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael George Rhodes bought 25,634 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were purchased at an average price of $39.09 per share, for a total transaction of $1,002,033.06. Following the completion of the transaction, the chief executive officer now owns 25,634 shares of the company’s stock, valued at $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.