Bridgeway Capital Management Inc. Trims Holdings in Ally Financial Inc (NYSE:ALLY)

Bridgeway Capital Management Inc. trimmed its position in Ally Financial Inc (NYSE:ALLY) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,175,400 shares of the financial services provider’s stock after selling 68,400 shares during the quarter. Bridgeway Capital Management Inc.’s holdings in Ally Financial were worth $23,308,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FMR LLC grew its holdings in Ally Financial by 129.3% during the first quarter. FMR LLC now owns 1,801,409 shares of the financial services provider’s stock worth $49,521,000 after acquiring an additional 1,015,634 shares during the period. Fifth Third Bancorp grew its holdings in Ally Financial by 17.6% in the first quarter. Fifth Third Bancorp now owns 8,018 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 1,199 shares during the period. Alps Advisors Inc. grew its holdings in Ally Financial by 39.7% in the first quarter. Alps Advisors Inc. now owns 13,990 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 3,973 shares during the period. Wetherby Asset Management Inc. grew its holdings in Ally Financial by 44.7% in the first quarter. Wetherby Asset Management Inc. now owns 13,311 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 4,110 shares during the period. Finally, Rhumbline Advisers grew its holdings in Ally Financial by 6.4% in the first quarter. Rhumbline Advisers now owns 478,087 shares of the financial services provider’s stock valued at $6,899,000 after purchasing an additional 28,560 shares during the period. Hedge funds and other institutional investors own 92.35% of the company’s stock.

ALLY has been the topic of several research analyst reports. Piper Sandler raised their price objective on Ally Financial from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and set a $23.50 price objective on the stock in a report on Wednesday, July 15th. Stephens raised their price objective on Ally Financial from $19.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Citigroup raised their price objective on Ally Financial from $24.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, Compass Point lifted their price target on Ally Financial from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Ally Financial presently has a consensus rating of “Buy” and an average price target of $25.72.

Ally Financial stock traded up $0.39 during trading on Tuesday, reaching $24.80. 4,202,000 shares of the company were exchanged, compared to its average volume of 5,955,989. Ally Financial Inc has a 52-week low of $10.22 and a 52-week high of $35.03. The company has a market capitalization of $9.13 billion, a P/E ratio of 14.34 and a beta of 1.66. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $22.43 and its two-hundred day simple moving average is $19.24.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.30. Ally Financial had a return on equity of 5.85% and a net margin of 10.87%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the business posted $0.97 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Ally Financial Inc will post 0.83 earnings per share for the current year.

Ally Financial Company Profile

Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

See Also: Cost of Debt

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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