Moore Capital Management LP Sells 907,740 Shares of Ally Financial Inc. $ALLY

Moore Capital Management LP cut its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 42.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,230,889 shares of the financial services provider’s stock after selling 907,740 shares during the quarter. Ally Financial makes up approximately 0.8% of Moore Capital Management LP’s portfolio, making the stock its 17th largest holding. Moore Capital Management LP owned 0.40% of Ally Financial worth $56,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALLY. Trust Co. of Vermont bought a new position in Ally Financial in the 2nd quarter worth approximately $36,000. Fideuram Asset Management Ireland dac purchased a new position in Ally Financial in the 4th quarter valued at approximately $35,000. Safe Harbor Fiduciary LLC purchased a new position in Ally Financial in the 4th quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd bought a new stake in Ally Financial during the 4th quarter valued at $38,000. Finally, CIBC Private Wealth Group LLC raised its holdings in Ally Financial by 805.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 896 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 797 shares during the period. Institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Up 0.0%

ALLY opened at $42.20 on Monday. The business’s fifty day simple moving average is $44.52 and its 200 day simple moving average is $42.64. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market cap of $12.84 billion, a PE ratio of 9.95, a P/E/G ratio of 0.26 and a beta of 1.10.

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

Ally Financial Announces Dividend

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

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the 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 transaction, the insider directly owned 88,927 shares in the company, valued at $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ALLY has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Wall Street Zen lowered Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Bank of America raised their target price on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Truist Financial reduced their target price on Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.64.

Ally Financial 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.