Ally Financial Inc. $ALLY Position Reduced by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd cut its Ally Financial stake by 25.4% in the first quarter, selling 46,293 shares and leaving it with 135,751 shares worth about $5.33 million.
• Ally Financial reported strong first-quarter results, posting EPS of $1.11 versus estimates of $0.93 and revenue of $2.18 billion, up 36.4% year over year.
• The company paid a quarterly dividend of $0.30 per share, which annualizes to $1.20 and a yield of about 2.7%; analysts currently rate the stock a Moderate Buy with a consensus target of $53.50.

Y Intercept Hong Kong Ltd trimmed its position in Ally Financial Inc. (NYSE:ALLY - Free Report) by 25.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,751 shares of the financial services provider's stock after selling 46,293 shares during the period. Y Intercept Hong Kong Ltd's holdings in Ally Financial were worth $5,326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ALLY. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ally Financial during the 4th quarter valued at $29,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Ally Financial in the fourth quarter valued at $35,000. Safe Harbor Fiduciary LLC bought a new position in Ally Financial during the fourth quarter valued at about $37,000. Harvest Fund Management Co. Ltd bought a new position in Ally Financial during the fourth quarter valued at about $38,000. Finally, CIBC Private Wealth Group LLC grew its holdings in Ally Financial by 805.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 896 shares of the financial services provider's stock worth $41,000 after acquiring an additional 797 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Douglas R. Timmerman sold 39,675 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the completion of the sale, the insider directly owned 477,627 shares of the company's stock, valued at $21,574,411.59. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie N. Richard sold 5,000 shares of the business's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the transaction, the insider directly owned 93,927 shares in the company, valued at $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.46% of the stock is owned by corporate insiders.

Ally Financial Stock Performance

Shares of ALLY stock opened at $45.20 on Friday. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $13.86 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 0.28 and a beta of 1.09. The stock's fifty day simple moving average is $43.82 and its 200-day simple moving average is $42.67.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the firm earned $0.58 earnings per share. Ally Financial's quarterly revenue was up 36.4% on a year-over-year basis. On average, sell-side analysts predict that Ally Financial Inc. will post 5.26 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a $0.30 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. Ally Financial's dividend payout ratio is currently 29.27%.

Analysts Set New Price Targets

Several brokerages have commented on ALLY. Wells Fargo & Company boosted their price target on shares of Ally Financial from $52.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Morgan Stanley raised their price objective on shares of Ally Financial from $53.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, April 20th. Truist Financial set a $54.00 price objective on shares of Ally Financial in a research note on Tuesday, April 21st. Citigroup dropped their target price on shares of Ally Financial from $70.00 to $58.00 and set a "buy" rating on the stock in a report on Tuesday, June 23rd. Finally, Weiss Ratings raised 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 company's stock. According to data from MarketBeat.com, Ally Financial presently has an average rating of "Moderate Buy" and a consensus price target of $53.50.

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.

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