Harris Associates LP recently announced the acquisition of new stake in Ally Financial Inc. (NYSE:ALLY). The institutional investor has increased its shareholding in the Financial company by 0.26% to 26.03 million shares with purchase of 67254.0 shares. This fresh investment now brings its stake to 8.63% valued currently at $720.81 million. In addition, Dimensional Fund Advisors LP raised its holdings by 0.3 million to 7.36 million shares. And Thrivent Asset Management LLC has lifted its position by 3.61% or 0.21 million shares – to 5.89 million shares.
With over 43.12 million Ally Financial Inc. (ALLY) shares trading Friday and a closing price of $29.10 on the day, the dollar volume was approximately $1.25 billion. The shares have shown a positive half year performance of 24.15% and its price on 09/15/23 gained nearly 2.11%. Currently, there are 303.68M common shares owned by the public and among those 299.33M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for ALLY have a consensus price objective of $31.61. The analysts have set the share’s price value over the next 12 months at a high of $45.00 and a low of $21.00. The average price target is 9.85% above its recent price level and a downside to the estimated low will see the stock lose -38.57% over that period. But an upside of 35.33% will see the stock hit the forecast high price target while median target price for the stock is $32.00.
Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 484,547 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 100,835 shares.
The top 3 mutual fund holders in Ally Financial Inc. are Oakmark Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. Oakmark Fund owns 13.36 million shares of the company’s stock, all valued at over $369.91 million. Vanguard Total Stock Market ETF sold 718.0 shares to see its total holdings shrink to 8.38 million shares valued at over $231.99 million and representing 2.78% of the shares outstanding. Vanguard Small Cap Index Fund bought 31735.0 shares to bring its total holdings to over 7.05 million shares at a value of $195.32 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.34% of the shares outstanding.
Shares of Ally Financial Inc. (NYSE: ALLY) opened at $28.33, down -$0.17 from a prior closing price of $28.50. However, the script later moved the day high at 29.47, up 2.11%. The company’s stock has a 5-day price change of 4.00% and 1.46% over the past three months. ALLY shares are trading 19.02% year to date (YTD), with the 12-month market performance down to -8.43% lower. It has a 12-month low price of $21.58 and touched a high of $35.78 over the same period. ALLY has an average intraday trading volume of 3.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.31%, 3.58%, and 6.15% respectively.
Institutional ownership of Ally Financial Inc. (NYSE: ALLY) shares accounts for 94.90% of the company’s 303.68M shares outstanding. Mutual fund holders own 36.90%, while other institutional holders and individual stakeholders account for 50.95% and 1.14% respectively.
It has a market capitalization of $8.60B and a beta (3y monthly) value of 1.33. The stock’s trailing 12-month PE ratio is 7.95, while the earnings-per-share (ttm) stands at $3.66. The company has a debt-to-equity ratio at 1.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.91% over the week and 3.39% over the month.
Analysts forecast that Ally Financial Inc. (ALLY) will achieve an EPS of $0.81 for the current quarter, $0.65 for the next quarter and $4.34 for 2024. The lowest estimate earnings-per-share for the quarter is $0.69 while analysts give the company a high EPS estimate of $0.96. Comparatively, EPS for the current quarter was $1.12 a year ago. Earnings per share for the fiscal year are expected to decrease by -38.80%, and 33.99% over the next financial year. EPS should shrink at an annualized rate of -11.27% over the next five years, compared to 17.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Ally Financial Inc. (ALLY) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 11 of the 21 advise that investors “hold,” and 4 rated it as a “Sell.”