Ally Financial Inc. $ALLY Shares Sold by SkyView Investment Advisors LLC

Key Points

• SkyView Investment Advisors cut its Ally Financial stake by 92.5% in the second quarter, selling 148,901 shares and retaining 12,000 shares valued at approximately $551,000. Institutional investors and hedge funds collectively own 88.76% of the company.
• Ally Financial reported quarterly revenue of $2.28 billion, up 9.8% year over year, while EPS of $1.21 narrowly missed analysts’ $1.22 estimate. The company also paid a quarterly dividend of $0.30 per share, representing a 2.9% yield.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $53.73, compared with the stock’s reported price of $41.97.

SkyView Investment Advisors LLC trimmed its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 92.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,000 shares of the financial services provider's stock after selling 148,901 shares during the quarter. SkyView Investment Advisors LLC's holdings in Ally Financial were worth $551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALLY. Fideuram Asset Management Ireland dac acquired a new stake in shares of Ally Financial during the 4th quarter worth approximately $35,000. Trust Co. of Vermont purchased a new position in Ally Financial in the second quarter valued at $36,000. Harvest Fund Management Co. Ltd purchased a new position in Ally Financial in the fourth quarter valued at $38,000. SJS Investment Consulting Inc. raised its position in shares of Ally Financial by 30.8% in the first quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider's stock worth $40,000 after acquiring an additional 240 shares during the period. Finally, Clearstead Advisors LLC raised its position in shares of Ally Financial by 107.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,043 shares of the financial services provider's stock worth $47,000 after acquiring an additional 541 shares during the period. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Price Performance

NYSE:ALLY opened at $41.97 on Tuesday. The stock has a 50 day moving average of $43.77 and a two-hundred day moving average of $42.73. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29. The firm has a market cap of $12.77 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 0.26 and a beta of 1.09. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26.

Ally Financial (NYSE:ALLY - Get Free Report) 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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. The business's revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Ally Financial Inc. will post 5.2 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, 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 2.9%. The ex-dividend date was Friday, July 31st. Ally Financial's dividend 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 dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the sale, the insider owned 88,927 shares of the company's stock, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

ALLY has been the topic of a number of analyst reports. Wall Street Zen cut Ally Financial from a "buy" rating to a "hold" rating in a research report on Monday, June 8th. Raymond James Financial assumed coverage on Ally Financial in a report on Tuesday, September 1st. They issued a "strong-buy" rating and a $55.00 price target for the company. Weiss Ratings upgraded Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Wells Fargo & Company boosted their price objective on Ally Financial from $52.00 to $55.00 and gave the company an "overweight" rating in a research report on Friday, June 26th. Finally, Truist Financial cut their price objective on Ally Financial from $54.00 to $51.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $53.73.

Ally Financial 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.

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