It's no secret that Warren Buffett likes financial sector stocks, as you'll find several major banks among Berkshire Hathaway 's massive stock portfolio. And in 2022, a new bank stock has been added to the portfolio: Ally Financial (NYSE: ALLY) .
Berkshire bought about 3% of Ally's outstanding shares in the first quarter, but more than tripled its position in the second. The conglomerate now owns about 9.3% of Ally, a stake worth just over $1 billion. And after some digging, Ally has jumped to the top of my own watch list. Here's why.
Ally Financial has been around for a long time, but prior to the financial crisis was a subsidiary of General Motors known as GMAC Financial.
For further details see:
Warren Buffett Owns a Lot of Stocks -- Here's the One I'm Most Excited About