Truist Financial Corp Has $5.33 Million Stock Position in Ally Financial Inc. (NYSE:ALLY)

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Truist Financial Corp lowered its stake in Ally Financial Inc. (NYSE:ALLYGet Rating) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 122,642 shares of the financial services provider’s stock after selling 4,280 shares during the quarter. Truist Financial Corp’s holdings in Ally Financial were worth $5,332,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Concord Wealth Partners raised its stake in Ally Financial by 109.7% during the 4th quarter. Concord Wealth Partners now owns 646 shares of the financial services provider’s stock worth $31,000 after buying an additional 338 shares during the period. Covestor Ltd acquired a new stake in Ally Financial during the 4th quarter worth $43,000. Missouri Trust & Investment Co acquired a new stake in Ally Financial during the 4th quarter worth $52,000. DeDora Capital Inc. acquired a new stake in Ally Financial during the 1st quarter worth $64,000. Finally, Geneos Wealth Management Inc. raised its stake in Ally Financial by 54.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,485 shares of the financial services provider’s stock worth $70,000 after buying an additional 524 shares during the period. 94.42% of the stock is currently owned by institutional investors.

Ally Financial stock opened at $33.14 on Friday. Ally Financial Inc. has a 52 week low of $31.66 and a 52 week high of $56.28. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $10.71 billion, a P/E ratio of 4.17, a PEG ratio of 0.14 and a beta of 1.41. The stock has a 50-day simple moving average of $37.50 and a 200 day simple moving average of $43.07.

Ally Financial (NYSE:ALLYGet Rating) last posted its quarterly earnings results on Thursday, April 14th. The financial services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.10. Ally Financial had a return on equity of 21.56% and a net margin of 34.73%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company posted $2.09 earnings per share. Ally Financial’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts forecast that Ally Financial Inc. will post 7.74 earnings per share for the current year.

Several analysts recently commented on ALLY shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $50.00 price objective on shares of Ally Financial in a research note on Wednesday. Morgan Stanley lowered their target price on Ally Financial from $55.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods lowered their target price on Ally Financial from $63.00 to $47.00 in a report on Monday. Compass Point lowered their target price on Ally Financial to $54.00 in a report on Monday, July 4th. Finally, Piper Sandler lowered their target price on Ally Financial from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, June 29th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Ally Financial presently has an average rating of “Moderate Buy” and a consensus price target of $55.77.

In related news, insider Jason E. Schugel sold 2,500 shares of Ally Financial stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $45.00, for a total transaction of $112,500.00. Following the completion of the transaction, the insider now owns 82,476 shares in the company, valued at $3,711,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.57% of the company’s stock.

Ally Financial Company Profile (Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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