Credit Suisse AG, a leading global financial services firm, has increased its holdings in Ally Financial Inc. (NYSE:ALLY), according to the company’s recent filing with the Securities and Exchange Commission (SEC). The increase in holdings amounted to 7.2% during the first quarter of this year.
With this increase, Credit Suisse AG now owns a total of 901,102 shares of Ally Financial’s stock, after purchasing an additional 60,318 shares during the specified period. This represents approximately 0.30% of the financial services provider’s worth, which translates to $22,969,000 as reported in the most recent SEC filing.
Ally Financial recently announced its quarterly dividend payment on August 15th. Investors who were recorded as shareholders on August 1st received a dividend payout of $0.30 per share. With an ex-dividend date set on July 31st last month, this dividend equates to an annualized rate of $1.20 and yields at an impressive rate of 4.57%. Regarding dividend payments by All Financial Inc., investors can calculate that they are currently receiving a substantial return on their investment.
Looking at Ally Financial’s payout ratio, it stands at around 32.79%. This ratio indicates the portion of earnings that is being paid out to shareholders as dividends. A lower payout ratio suggests that the company retains more earnings for other purposes such as reinvestment or debt reduction.
Credit Suisse AG increasing its holdings in Ally Financial demonstrates confidence in the company’s financial performance and potential growth prospects. It is noteworthy to mention that after increasing its position in Ally Financial in early 2023, Credit Suisse AG appears positive about the future direction of this particular financial services provider.
As always when interpreting investment data and making investment decisions related to stocks like ALLY, investors are advised to conduct thorough research and analysis before engaging in any action or decision-making process.
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Ally Financial Sees Changes in Holdings By Major Investors as Analysts Provide Mixed Ratings
The investment landscape is ever-shifting, with large investors constantly buying and selling shares in various companies. In the case of Ally Financial (NYSE: ALLY), several significant investors have recently taken action in relation to its stock.
Kinneret Advisory LLC, for instance, has raised its position in Ally Financial by 2.3% during the first quarter of this year. This move has resulted in Kinneret Advisory now owning 11,700 shares of the financial services provider’s stock, equating to a value of around $509,000. This increase was achieved by buying an additional 262 shares over the course of the last quarter.
Blair William & Co. IL also saw a rise in its holdings of Ally Financial shares, increasing by 2.6% during the first quarter. They now own approximately 10,497 shares valued at $456,000 after purchasing an additional 264 shares within the same timeframe.
Quadrant Capital Group LLC took a more significant leap by increasing its holdings in Ally Financial by 12.9% in the fourth quarter of the previous year. They currently possess 2,863 shares valued at $70,000 after acquiring an additional 327 shares during that period.
Salem Investment Counselors Inc., on the other hand, opted for a substantial surge as they increased their holdings in Ally Financial by an impressive 115.0% during the first quarter. Their ownership now amounts to around 645 shares valued at $28,000 after purchasing an additional 345 shares within the same timeframe.
Last but not least is EP Wealth Advisors LLC who saw an increase of 8.2% in their holdings during the first quarter. The company now owns approximately 4,656 shares valued at $202,000 after purchasing an additional 354 shares.
It’s worth noting that institutional investors and hedge funds currently own a staggering majority – specifically speaking, about 87.94% – of Ally Financial’s stock.
While addressing the analysis and opinions surrounding Ally Financial, it is worth noting that several equities research analysts have discussed the company’s stock in recent times. Royal Bank of Canada, for example, reissued an “outperform” rating on Ally Financial shares and set a price objective of $35.00 in one of their research notes released on July 20th.
StockNews.com conducted coverage on Ally Financial as well and designated the stock as a “hold.” Stephens, another equity research analyst, increased its price objective on Ally Financial from $29.00 to $32.00 while giving the company an “equal weight” rating in their research note also released on July 20th.
However, Odeon Capital Group delivered a somewhat less favorable opinion by assigning a “sell” rating along with a price objective of $25.00 in their June 12th research note. The Goldman Sachs Group, meanwhile, issued a more positive outlook by increasing their price objective from $31.00 to $35.00 and labeling the company as a “buy” in their July 20th research note.
Taking into account these different perspectives, it might be helpful to refer to Bloomberg’s consensus rating for Ally Financial – stating it currently stands at “Hold.” In addition, there is an associated consensus price target valued at around $31.28 for the company.
On Thursday, August 24th, ALLY opened at $26.28 per share – signaling the start of another trading day for this financial services provider. Reflecting upon its market performance within the past year, Ally Financial has experienced both highs and lows: reaching a low point of $21.58 and hitting a high mark of $36.20 during this period.
With regards to moving averages, the stock has displayed a 50-day simple moving average value of $27.99 and its 200-day simple moving average stands at $27.52.
In terms of the company’s financial health, Ally Financial boasts a market capitalization of approximately $7.93 billion. As of this writing, the price-to-earnings (PE) ratio for Ally Financial is 7.18 – a characteristic that may generate some attention in investment circles. Additionally, the company exhibits a beta value of 1.34, indicating that its stock is potentially more volatile compared to the overall market.
Furthermore, due to its debt-to-equity ratio of 1.8 along with its quick and current ratios both standing at 0.92, Ally Financial showcases its ability to meet short-term obligations with relative ease.
It is important to note that on Wednesday, July 19th, Ally Financial released its earnings results for the quarter ending on June 30th. During this period, they reported earnings per share (EPS) of $0.96 – exceeding analysts’ consensus estimates by $0.02.
From a profitability perspective, Ally Financial displayed a net margin of 14.59% and a return on equity (ROE) of 12.34%. Moreover, their revenue for the second quarter stood at $2.08 billion – only slightly below the consensus estimate