Azora Capital LP Acquires New Holdings in Ally Financial Inc. $ALLY

Key Points

• Azora Capital acquired 926,211 Ally Financial shares worth approximately $42.6 million, giving it a 0.30% stake and making Ally its 19th-largest holding. Institutional investors collectively own 88.76% of the company.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and two Holds. Ally has a consensus price target of $53.64 versus a reported share price of $42.58.
• Ally reported quarterly revenue of $2.28 billion, up 9.8% year over year, though earnings of $1.21 per share narrowly missed estimates. The company paid a quarterly dividend of $0.30 per share, equivalent to a 2.8% yield.

Azora Capital LP acquired a new position in Ally Financial Inc. (NYSE:ALLY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 926,211 shares of the financial services provider's stock, valued at approximately $42,559,000. Ally Financial makes up about 1.8% of Azora Capital LP's holdings, making the stock its 19th largest holding. Azora Capital LP owned about 0.30% of Ally Financial as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tocqueville Asset Management L.P. acquired a new position in Ally Financial in the 2nd quarter valued at $17,613,000. State of Wyoming acquired a new stake in Ally Financial during the 2nd quarter worth $3,195,000. Intech Investment Management LLC acquired a new stake in shares of Ally Financial in the fourth quarter valued at about $3,926,000. Geode Capital Management LLC lifted its stake in shares of Ally Financial by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock worth $243,795,000 after buying an additional 241,000 shares in the last quarter. Finally, Qsemble Capital Management LP lifted its stake in shares of Ally Financial by 136.0% in the fourth quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider's stock worth $7,235,000 after buying an additional 92,043 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on ALLY. Wall Street Zen downgraded shares of Ally Financial from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Citigroup dropped their price target on Ally Financial from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Tuesday, June 23rd. Bank of America lifted their price objective on Ally Financial from $52.00 to $53.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Truist Financial lowered their price objective on Ally Financial from $54.00 to $51.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $58.00 target price on shares of Ally Financial in a report on Wednesday, July 22nd. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Ally Financial currently has an average rating of "Moderate Buy" and a consensus price target of $53.64.

Ally Financial Trading Down 0.0%

NYSE ALLY opened at $42.58 on Thursday. The firm's 50-day moving average is $44.64 and its two-hundred day moving average is $42.63. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $12.95 billion, a P/E ratio of 10.04, a PEG ratio of 0.26 and a beta of 1.10.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates 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 prior year, the business earned $0.99 earnings per share. Ally Financial's revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Announces Dividend

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

Insider Activity

In related news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the transaction, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Ally Financial 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.

Want to see what other hedge funds are holding ALLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ally Financial Inc. (NYSE:ALLY - Free Report).

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