The Vanguard Group, Inc. 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 1.13% to 27.32 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 9.06% valued currently at $798.23 million. In addition, Harris Associates LP raised its holdings by 0.13 million to 26.16 million shares. And BlackRock Fund Advisors has lifted its position by 96.26% or 11.03 million shares – to 22.49 million shares.
Currently, there are 299.32M common shares owned by the public and among those 298.48M shares have been available to trade.
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Insiders at the company have transacted a total of 65 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 1,054,989 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 iShares Core S&P Mid Cap ETF. Oakmark Fund owns 13.36 million shares of the company’s stock, all valued at over $390.35 million. Vanguard Total Stock Market ETF bought 54274.0 shares to see its total holdings expand to 8.45 million shares valued at over $246.98 million and representing 2.80% of the shares outstanding. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.77% of the shares outstanding.
However, the script later moved the day high at 34.84, up 2.09%. The company’s stock has a 5-day price change of 15.83% and 25.86% over the past three months. ALLY shares are trading 42.13% year to date (YTD), with the 12-month market performance up to 41.55% higher. 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 4.61 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 16.02%, 28.03%, and 28.85% respectively.
Institutional ownership of Ally Financial Inc (NYSE: ALLY) shares accounts for 89.55% of the company’s 299.32M shares outstanding. Mutual fund holders own 42.74%, while other institutional holders and individual stakeholders account for 47.20% and 1.33% respectively.
It has a market capitalization of $10.48B and a beta (3y monthly) value of 1.40. The stock’s trailing 12-month PE ratio is 9.51, while the earnings-per-share (ttm) stands at $3.66. The company has a debt-to-equity ratio at 1.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.11% over the week and 3.31% over the month.
Analysts forecast that Ally Financial Inc (ALLY) will achieve an EPS of $0.52 for the current quarter, $0.63 for the next quarter and $3.72 for 2024. The lowest estimate earnings-per-share for the quarter is $0.33 while analysts give the company a high EPS estimate of $0.69. Comparatively, EPS for the current quarter was $1.08 a year ago. Earnings per share for the fiscal year are expected to decrease by -48.73%, and 19.29% over the next financial year. EPS should shrink at an annualized rate of -11.27% over the next five years, compared to 19.80% over the past 5-year period.
Looking at the support for the ALLY, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on December 13, 2023, with the firm’s price target at $23-$31.
