In the first quarter of 2023, Impax Asset Management Group plc reduced its holdings in Ally Financial Inc. (NYSE:ALLY) by 29.0%, as indicated in its recent filing with the Securities and Exchange Commission (SEC). The fund now owns 10,095 shares of the financial services provider’s stock, after selling 4,115 shares during the quarter. At the time of filing, Impax Asset Management Group plc’s holdings in Ally Financial were valued at $257,000.
Ally Financial (NYSE:ALLY) recently released its quarterly earnings results on July 19th. The company reported earnings per share (EPS) of $0.96 for the quarter, surpassing the consensus estimate of $0.94 by $0.02. Its revenue for the quarter amounted to $2.08 billion, slightly lower than the consensus estimate of $2.09 billion.
Despite a marginal increase of 0.1% in revenue compared to the same quarter last year, Ally Financial demonstrated a net margin of 14.59% and a return on equity of 12.34%. In the corresponding period last year, the company posted EPS of $1.76.
Industry experts project that Ally Financial Inc. will achieve an EPS of 3.27 for this fiscal year.
It is crucial for investors and individuals interested in financial markets to stay informed about these latest developments surrounding Ally Financial Inc., especially given Impax Asset Management Group plc’s reduction in holdings and Ally Financial’s recent quarterly performance.
For more detailed analysis regarding Ally Financial Inc.’s stock performance and market trends, readers are encouraged to refer to our latest stock analysis on our website or consult a financial advisor for personalized advice.
Source: SEC Filing – August 20th, 2023
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Significant Changes in Holdings of Ally Financial: Insights from Large Investors and Market Performance
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”ALLY” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]In recent times, there have been significant changes in the holdings of Ally Financial, a leading financial services provider. Large investors such as Millennium Management LLC, AQR Capital Management LLC, Renaissance Technologies LLC, Sessa Capital IM L.P., and Arrowstreet Capital Limited Partnership have made modifications to their positions in the company’s stock.
One notable investor, Millennium Management LLC, increased its stake in Ally Financial by a staggering 195.1% during the fourth quarter. This move resulted in Millennium Management now owning approximately 6,058,768 shares of the company’s stock with an estimated value of $148,137,000. Similarly, AQR Capital Management LLC also raised its stake by an impressive 233.9%, owning 4,118,432 shares valued at $100,160,000 after acquiring an additional 2,884,833 shares.
Moreover, Renaissance Technologies LLC witnessed a noteworthy increment of 113.2% in its holdings during the fourth quarter. The firm now possesses roughly 3,476,200 shares of Ally Financial worth around $84.993 million after purchasing an additional 1,845,600 shares. Additionally,Sessa Capital IM L.P., entered the scene and invested $44.088 million in Ally Financial.
Lastly,serves as further testament to these large investors’ confidence because they own approximately 87.94%of Ally Financial’s stock thus marking their belief in its potential for growth and profitability.
In terms of market performance on August 20th , Shares of NYSE:ALLY opened at $27.23 on Friday with a market capitalization standing at over $8 billion.Such information further highlights its stability and significance within the industry.Surprisingly significative along essentiellertweise vitious circumstances
The company recently revealed that it had disclosed a quarterly dividend payment on August 15th.The payment amounted to$0.30 per share; Investors who were listed as shareholders on August 1st received this dividend.Paying out $1.20 annually, for each share held,this equates to a yield of 4.41%.hence solidifying that investing in Ally Financial can provide consistent returns while also providing an attractive dividend payout ratio
Currently, the dividend payout ratio (DPR) stands at 32.79%, which is reflective of the company’s dedication towards rewarding its shareholders with regular payments.
A number of financial institutions have voiced their opinions about Ally Financial. Stephens, for example, raised their price target on Ally Financial’s stock from $29.00 to $32.00 and gave it an “equal weight” rating.BMO Capital Markets, on the other hand, adjusted their price target from $47.00 to $45.00and gave Ally Financial an “outperform” rating.Another renowned brokerage firm,Morgan Stanley,ramped up its price target on Ally Financial’s stock from $22.00 to $24.00 but assigned an “underweight” rating.In contrast,Citigroup reduced its price target from $40.00 to %37.00.However,Royal Bank of Canada maintained an “outperform” rating and set a target price of $35.The variety of ratings attached gives an equally spread sentiment regarding the potential of Ally Financial.Having said,this according to Bloomberg,the average rating is “hold” with consensus Price targets at$31 per share
In conclusion,large investors making changes in their holdings of Ally Financial provides vital insight into the market perception concerning this company.While various institutions differ in their valuation and assessment,today’s financial environment continues to present opportunities for investors seeking stability and dividends.Moreover,given these circumstanfes they expect downwards pressure maybe entailing significance.As perplexing arms situation unfolding by.Ar eclusive analyst engagements bespoke banks recent findings.Nevertheless,buyers should exercise caution and conduct thorough analysis before making any investment decisions.
