Truist Financial Corp Decreases Stock Position in Ally Financial Inc. (NYSE:ALLY)

Truist Financial Corp decreased its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,860 shares of the financial services provider’s stock after selling 10,370 shares during the quarter. Truist Financial Corp’s holdings in Ally Financial were worth $2,454,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 526 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Ally Financial during the 1st quarter worth approximately $28,000. Rise Advisors LLC acquired a new position in shares of Ally Financial in the 1st quarter valued at $32,000. Quarry LP grew its position in shares of Ally Financial by 165.7% in the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after buying an additional 598 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Ally Financial in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America decreased their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Evercore ISI decreased their price objective on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a report on Monday. TD Cowen cut their target price on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Barclays decreased their price target on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. Finally, Citigroup began coverage on shares of Ally Financial in a research note on Monday, June 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.63.

Ally Financial Price Performance

ALLY opened at $35.11 on Friday. The company has a market capitalization of $10.67 billion, a P/E ratio of 14.33, a PEG ratio of 0.37 and a beta of 1.39. The company has a 50-day moving average of $38.32 and a 200-day moving average of $39.33. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. Ally Financial Inc. has a 1-year low of $22.54 and a 1-year high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.33. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share. Equities analysts expect that Ally Financial Inc. will post 3.15 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is 48.98%.

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.