Econ Financial Services Corp Purchases New Position in Ally Financial Inc. (NYSE:ALLY)

Econ Financial Services Corp bought a new stake in Ally Financial Inc. (NYSE:ALLY) in the 4th quarter, Holdings Channel.com reports. The fund bought 21,741 shares of the financial services provider’s stock, valued at approximately $783,000.

Several other hedge funds also recently bought and sold shares of ALLY. Venturi Wealth Management LLC grew its holdings in shares of Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after buying an additional 577 shares during the period. Allworth Financial LP lifted its holdings in Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 421 shares in the last quarter. UMB Bank n.a. grew its stake in Ally Financial by 218.8% in the fourth quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 1,061 shares during the period. Brooklyn Investment Group bought a new stake in shares of Ally Financial in the third quarter worth about $63,000. Finally, Rakuten Securities Inc. raised its position in shares of Ally Financial by 65,375.0% during the third quarter. Rakuten Securities Inc. now owns 2,619 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 2,615 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALLY shares. Citigroup boosted their price objective on Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Truist Financial upped their price target 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. Keefe, Bruyette & Woods raised their price objective on shares of Ally Financial from $44.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays upped their target price on shares of Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their target price on Ally Financial from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. One investment 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. According to data from MarketBeat, Ally Financial has a consensus rating of “Hold” and a consensus target price of $43.76.

Ally Financial Stock Up 0.3 %

Ally Financial stock opened at $38.22 on Wednesday. Ally Financial Inc. has a fifty-two week low of $31.95 and a fifty-two week high of $45.46. The firm has a market capitalization of $11.64 billion, a PE ratio of 14.70, a P/E/G ratio of 0.43 and a beta of 1.45. The company’s 50-day moving average is $37.30 and its 200-day moving average is $37.69. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results 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 the consensus estimate of $2.02 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Ally Financial Inc. will post 3.7 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Friday, January 31st. Ally Financial’s dividend payout ratio (DPR) is presently 46.15%.

Insider Buying and Selling at Ally Financial

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

Ally Financial 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.