Hsbc Holdings PLC Takes Position in Ally Financial Inc. $ALLY

by · The Markets Daily

Hsbc Holdings PLC purchased a new stake in Ally Financial Inc. (NYSE:ALLY – Free Report) in the second quarter, HoldingsChannel reports. The fund purchased 73,390 shares of the financial services provider’s stock, valued at approximately $3,405,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALLY. BlackRock Inc. bought a new stake in Ally Financial during the second quarter worth approximately $1,315,659,000. Donald Smith & CO. Inc. bought a new stake in shares of Ally Financial in the 2nd quarter valued at approximately $172,509,000. Norges Bank purchased a new position in shares of Ally Financial in the 4th quarter worth approximately $157,610,000. Wellington Management Group LLP boosted its holdings in shares of Ally Financial by 19.5% in the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock worth $646,347,000 after purchasing an additional 2,332,610 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Ally Financial in the 2nd quarter worth approximately $103,930,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Price Performance

Shares of ALLY stock opened at $42.20 on Friday. The stock has a 50 day moving average price of $44.52 and a 200 day moving average price of $42.63. Ally Financial Inc. has a 52-week low of $35.92 and a 52-week high of $47.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $12.84 billion, a P/E ratio of 9.95, a P/E/G ratio of 0.26 and a beta of 1.10.

Ally Financial (NYSE:ALLY – Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the company earned $0.99 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, July 31st. Ally Financial’s payout ratio is currently 28.30%.

Analyst Ratings Changes

ALLY has been the topic of several recent research reports. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Truist Financial dropped their price objective on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $58.00 target price on shares of Ally Financial in a research note on Wednesday, July 22nd. Finally, Bank of America raised their target price on shares of Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial presently has a consensus rating of “Moderate Buy” and an average target price of $53.64.

View Our Latest Report on ALLY

Insider Activity at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the transaction, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Ally Financial Profile

(Free Report)

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.

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