SkyView Investment Advisors LLC Reduces Holdings in Ally Financial Inc. $ALLY

SkyView Investment Advisors LLC lowered its position in shares of Ally Financial Inc. (NYSE:ALLY) by 92.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,000 shares of the financial services provider’s stock after selling 148,901 shares during the period. SkyView Investment Advisors LLC’s holdings in Ally Financial were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Ally Financial in the second quarter worth approximately $1,315,659,000. Berkshire Hathaway Inc acquired a new position in shares of Ally Financial in the 2nd quarter valued at $1,240,650,000. California State Teachers Retirement System lifted its stake in shares of Ally Financial by 4,362.7% in the 2nd quarter. California State Teachers Retirement System now owns 14,336,308 shares of the financial services provider’s stock valued at $658,753,000 after purchasing an additional 14,015,057 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ally Financial by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider’s stock worth $353,776,000 after purchasing an additional 309,638 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Ally Financial by 7.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,071,504 shares of the financial services provider’s stock worth $274,978,000 after purchasing an additional 444,756 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALLY. Raymond James Financial started coverage on shares of Ally Financial in a report on Tuesday, September 1st. They issued a “strong-buy” rating and a $55.00 price objective on the stock. Citigroup dropped their price target on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Wells Fargo & Company boosted their price target on shares of Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Finally, Royal Bank Of Canada increased their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.73.

Ally Financial Price Performance

ALLY opened at $41.97 on Tuesday. The stock’s 50-day moving average price is $43.77 and its 200 day moving average price is $42.73. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month high of $47.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.26 and a beta of 1.09.

Ally Financial (NYSE:ALLY) last released its earnings results 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 during the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, sell-side analysts expect that Ally Financial Inc. will post 5.2 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.30 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Ally Financial’s payout ratio is 28.30%.

Insiders Place Their Bets

In related news, insider Stephanie Richard sold 5,000 shares of the company’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 sale, the insider directly owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This represents a 5.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by insiders.

Ally Financial Company Profile

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan. Through its subsidiaries, the company provides consumer and commercial financial products, with a primary focus on automotive financing and digital banking.

Ally’s automotive business offers retail installment sales contracts, consumer loans and leasing products through a network of automotive dealers. The company also provides dealer financing and related commercial lending services. Through Ally Bank, it offers deposit accounts, personal loans, mortgage products and other banking services, while Ally Invest provides self-directed investment and brokerage services to individuals.

The company serves customers primarily in the United States through digital platforms, dealer relationships and other distribution channels.