Alyeska Investment Group L.P. Takes Position in Ally Financial Inc. $ALLY

Key Points

• Alyeska Investment Group acquired 502,039 Ally Financial shares worth approximately $23.1 million, giving it a 0.17% stake. Institutional investors collectively own 88.76% of the company.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and average price target of $53.64.
• Ally reported quarterly revenue of $2.28 billion, up 9.8% year over year, although earnings of $1.21 per share narrowly missed estimates. The company also paid a quarterly dividend of $0.30 per share, representing a 2.8% yield.

Alyeska Investment Group L.P. acquired a new stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 502,039 shares of the financial services provider's stock, valued at approximately $23,069,000. Alyeska Investment Group L.P. owned 0.17% of Ally Financial at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Ally Financial by 106.5% during the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider's stock worth $9,158,000 after acquiring an additional 129,497 shares during the period. NewEdge Advisors LLC grew its position in Ally Financial by 22.8% in the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider's stock valued at $82,000 after buying an additional 415 shares in the last quarter. Empowered Funds LLC raised its position in shares of Ally Financial by 11.1% during the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider's stock worth $470,000 after buying an additional 1,292 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Ally Financial in the 1st quarter worth approximately $259,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Ally Financial by 374.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider's stock worth $58,000 after acquiring an additional 1,166 shares during the period. 88.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ALLY shares. Truist Financial lowered their price objective on shares of Ally Financial from $54.00 to $51.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Wall Street Zen lowered shares of Ally Financial from a "buy" rating to a "hold" rating in a research report on Monday, June 8th. Royal Bank Of Canada lifted their target price on shares of Ally Financial from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, July 10th. Citigroup lowered their price target 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Ally Financial currently has a consensus rating of "Moderate Buy" and an average target price of $53.64.

Insider Buying and Selling

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the sale, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by company insiders.

Ally Financial Stock Down 0.0%

ALLY opened at $42.16 on Tuesday. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29. The business has a 50 day moving average of $44.45 and a 200-day moving average of $42.64. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 0.26 and a beta of 1.10. 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 released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. Ally Financial's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial's dividend payout ratio is 28.30%.

About Ally Financial

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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