Ally Financial Inc. $ALLY Shares Sold by Ancient Art L.P.

Key Points

• Ancient Art L.P. reduced its stake in Ally Financial Inc. by 51%, now holding 1,008,399 shares, which represents about 10.9% of its portfolio.
• Ally Financial reported earnings of $0.99 EPS, surpassing estimates, with quarterly revenue reaching $2.08 billion.
• Several large investors increased their holdings in Ally Financial, with institutions now owning 88.76% of the company's stock.

Ancient Art L.P. lowered its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 51.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,008,399 shares of the financial services provider's stock after selling 1,051,608 shares during the quarter. Ally Financial comprises approximately 10.9% of Ancient Art L.P.'s investment portfolio, making the stock its 6th biggest holding. Ancient Art L.P. owned 0.33% of Ally Financial worth $36,776,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Ally Financial by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,797,505 shares of the financial services provider's stock valued at $320,855,000 after acquiring an additional 134,113 shares in the last quarter. Wellington Management Group LLP bought a new stake in Ally Financial during the 1st quarter valued at $253,881,000. First Manhattan CO. LLC. raised its stake in Ally Financial by 0.8% during the 1st quarter. First Manhattan CO. LLC. now owns 4,258,760 shares of the financial services provider's stock valued at $155,317,000 after acquiring an additional 32,121 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Ally Financial by 84.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider's stock valued at $151,320,000 after purchasing an additional 1,918,965 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its stake in Ally Financial by 10.0% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,251,276 shares of the financial services provider's stock valued at $118,584,000 after purchasing an additional 295,239 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. BTIG Research raised Ally Financial from a "sell" rating to a "neutral" rating in a research note on Monday, July 14th. Morgan Stanley reaffirmed an "overweight" rating and set a $47.00 price target (up from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Wall Street Zen raised shares of Ally Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 23rd. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.67.

Ally Financial Stock Down 0.5%

NYSE ALLY traded down $0.20 during trading on Friday, reaching $41.37. The company's stock had a trading volume of 3,612,063 shares, compared to its average volume of 2,299,456. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $12.73 billion, a PE ratio of 26.86, a PEG ratio of 0.32 and a beta of 1.14. The business has a 50-day moving average price of $39.42 and a 200-day moving average price of $36.47. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $42.46.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.21. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The firm had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The company's revenue was up 3.0% compared to the same quarter last year. On average, research analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, August 1st. Ally Financial's dividend payout ratio (DPR) is 77.92%.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.