Sei Investments Cuts Stake in Ally Financial Amid Institutional Shift
Ally Financial Inc.'s (NYSE: ALLY) stock saw significant institutional changes in Q1, according to recent SEC filings.
Sei Investments Co. reduced its holdings by 24.9% during this period, selling 412,777 shares and owning 1,247,559 shares after the quarter. This represents a 0.41% stake in Ally Financial worth $48,942,000 at the end of Q1.
Other institutional investors also made adjustments to their stakes in the company. Royal Bank of Canada increased its holdings by 106.5%, purchasing an additional 129,497 shares and owning 251,123 shares valued at $9,158,000. NewEdge Advisors LLC lifted its stake by 22.8% through adding 415 shares, now owning 2,235 shares worth $82,000.
Institutional investors collectively own 88.76% of the company's stock.