Parallax Volatility Advisers L.P. Makes New $1.65 Million Investment in Ally Financial Inc. $ALLY

Parallax Volatility Advisers L.P. acquired a new position in shares of Ally Financial Inc. (NYSE:ALLY) during the second quarter, HoldingsChannel reports. The firm acquired 35,830 shares of the financial services provider’s stock, valued at approximately $1,646,000.

Other hedge funds have also added to or reduced their stakes in the company. Philadelphia Investment Partners LLC bought a new position in Ally Financial during the second quarter worth $53,000. Azora Capital LP acquired a new stake in shares of Ally Financial during the 2nd quarter worth about $42,559,000. Bank of America Corp DE bought a new stake in shares of Ally Financial during the 2nd quarter worth about $105,379,000. Basswood Capital Management L.L.C. acquired a new position in Ally Financial in the 2nd quarter valued at about $27,463,000. Finally, Berkshire Hathaway Inc acquired a new stake in Ally Financial during the second quarter worth approximately $1,240,650,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Stock Down 0.0%

Shares of NYSE ALLY opened at $42.58 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29. The stock has a market capitalization of $12.95 billion, a P/E ratio of 10.04, a PEG ratio of 0.26 and a beta of 1.10. The stock’s fifty day moving average is $44.64 and its 200 day moving average is $42.63.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.01). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 EPS. Sell-side analysts forecast that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is currently 28.30%.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the transaction, the insider directly owned 88,927 shares in the company, valued at $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALLY. Truist Financial reduced their price objective on Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $58.00 price target on shares of Ally Financial in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Bank of America lifted their target price on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.64.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.