Cibc World Markets Corp Sells 3,533 Shares of Ally Financial Inc. (NYSE:ALLY)

Cibc World Markets Corp decreased its position in shares of Ally Financial Inc. (NYSE:ALLY) by 22.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,409 shares of the financial services provider’s stock after selling 3,533 shares during the quarter. Cibc World Markets Corp’s holdings in Ally Financial were worth $447,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALLY. Assenagon Asset Management S.A. grew its position in shares of Ally Financial by 233.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock worth $87,509,000 after buying an additional 1,701,264 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Ally Financial by 217.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock valued at $81,260,000 after purchasing an additional 1,563,008 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its position in Ally Financial by 75.6% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,956,037 shares of the financial services provider’s stock valued at $106,455,000 after purchasing an additional 1,272,853 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Ally Financial during the third quarter valued at about $21,571,000. Finally, 140 Summer Partners LP bought a new stake in Ally Financial during the third quarter valued at about $19,140,000. Institutional investors own 88.76% of the company’s stock.

Ally Financial Trading Up 1.1 %

Shares of NYSE:ALLY opened at $36.50 on Monday. Ally Financial Inc. has a 52-week low of $31.95 and a 52-week high of $45.46. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.32 and a beta of 1.40. 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 business has a 50-day moving average price of $36.99 and a 200-day moving average price of $36.37.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.21. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. Equities analysts predict that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.29%. The ex-dividend date was Friday, January 31st. Ally Financial’s dividend payout ratio is currently 46.15%.

Insider Activity at Ally Financial

In other Ally Financial news, CEO Michael George Rhodes acquired 25,634 shares of the company’s stock in a transaction on Monday, January 27th. The shares were bought at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the acquisition, the chief executive officer now owns 25,634 shares in the company, valued at approximately $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Russell E. Hutchinson acquired 19,100 shares of the company’s stock in a transaction on Friday, January 24th. The stock was acquired at an average cost of $39.45 per share, for a total transaction of $753,495.00. Following the completion of the acquisition, the chief financial officer now owns 202,845 shares of the company’s stock, valued at $8,002,235.25. This trade represents a 10.39 % increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ALLY has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Truist Financial raised their price objective on Ally Financial from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Wells Fargo & Company raised their price objective on Ally Financial from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group increased their price target on Ally Financial from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. increased their price target on Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.