Jump Financial LLC Trims Stock Position in Ally Financial Inc. $ALLY

Key Points

• Jump Financial LLC reduced its stake in Ally Financial Inc. by 44.3% in the first quarter, selling 185,920 shares, and now owns 233,532 shares worth approximately $8.5 million.
• Several institutional investors adjusted their positions, with Bessemer Group Inc. increasing its stake by 59.6% and Allspring Global Investments among those establishing new positions in Ally Financial.
• Analysts have raised price targets for Ally Financial stock, with Truist Financial setting a new target of $45.00 and Citigroup raising theirs to $59.00, reflecting positive sentiments despite the fluctuations in ownership.

Jump Financial LLC decreased its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 44.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,532 shares of the financial services provider's stock after selling 185,920 shares during the period. Jump Financial LLC owned about 0.08% of Ally Financial worth $8,517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ALLY. Raymond James Financial Inc. bought a new position in Ally Financial in the fourth quarter worth approximately $2,337,000. Tower Research Capital LLC TRC increased its position in shares of Ally Financial by 18.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 22,026 shares of the financial services provider's stock worth $793,000 after purchasing an additional 3,469 shares in the last quarter. Stifel Financial Corp increased its position in shares of Ally Financial by 113.2% during the fourth quarter. Stifel Financial Corp now owns 60,101 shares of the financial services provider's stock worth $2,164,000 after purchasing an additional 31,915 shares in the last quarter. Pinebridge Investments L.P. increased its position in shares of Ally Financial by 33.6% during the fourth quarter. Pinebridge Investments L.P. now owns 93,055 shares of the financial services provider's stock worth $3,351,000 after purchasing an additional 23,418 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Ally Financial by 389.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 525,000 shares of the financial services provider's stock worth $18,905,000 after purchasing an additional 417,829 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. BTIG Research upgraded Ally Financial from a "sell" rating to a "neutral" rating in a research note on Monday, July 14th. Wall Street Zen upgraded Ally Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 23rd. Truist Financial raised their target price on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Citigroup reiterated a "buy" rating and set a $59.00 price target (up from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.80.

Ally Financial Price Performance

Shares of Ally Financial stock traded up $0.04 on Thursday, hitting $41.10. 2,713,105 shares of the company were exchanged, compared to its average volume of 3,868,200. The stock has a market capitalization of $12.65 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 0.32 and a beta of 1.16. The company has a 50-day moving average price of $38.96 and a 200 day moving average price of $36.34. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $43.22. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30.

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

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, August 1st. Ally Financial's payout ratio is currently 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.