PDT Partners LLC Takes $2.06 Million Position in Ally Financial Inc. $ALLY

PDT Partners LLC acquired a new position in shares of Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 44,842 shares of the financial services provider’s stock, valued at approximately $2,060,000.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Ally Financial during the fourth quarter worth about $29,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Ally Financial in the 4th quarter worth about $35,000. Trust Co. of Vermont bought a new position in shares of Ally Financial during the 2nd quarter valued at about $36,000. Safe Harbor Fiduciary LLC bought a new position in shares of Ally Financial during the 4th quarter valued at about $37,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Ally Financial during the 4th quarter valued at about $38,000. Institutional investors own 88.76% of the company’s stock.

Insider Activity

In related news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the transaction, the insider owned 88,927 shares in the company, valued at $3,933,241.21. This 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 through this hyperlink. Company insiders own 0.46% of the company’s stock.

Ally Financial Price Performance

Shares of Ally Financial stock opened at $42.58 on Thursday. The firm has a market cap of $12.95 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.26 and a beta of 1.10. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month 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 company’s fifty day simple moving average is $44.64 and its two-hundred day simple moving average is $42.63.

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

Ally Financial Dividend Announcement

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

Analysts Set New Price Targets

ALLY has been the subject of several research reports. Bank of America upped 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. Citigroup decreased their price target on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Wells Fargo & Company boosted their price objective on shares of 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 cut shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Truist Financial reduced their target price on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Fourteen investment 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 presently has a consensus rating of “Moderate Buy” and an average target price 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.