Freestone Grove Partners LP Takes $54.46 Million Position in Ally Financial Inc. $ALLY

Key Points

• Freestone Grove Partners LP acquired 1,185,223 Ally Financial shares worth approximately $54.46 million, representing about 0.39% of the company. Institutional investors collectively own 88.76% of Ally’s stock.
• Ally reported quarterly revenue of $2.28 billion, up 9.8% year over year, while EPS of $1.21 narrowly missed estimates. The company paid a quarterly dividend of $0.30, representing a 2.8% annualized yield.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and two Holds; Ally has a “Moderate Buy” consensus rating and an average price target of $53.64 versus a recent price of $42.58.

Freestone Grove Partners LP acquired a new position in Ally Financial Inc. (NYSE:ALLY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,185,223 shares of the financial services provider's stock, valued at approximately $54,461,000. Freestone Grove Partners LP owned about 0.39% of Ally Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in Ally Financial during the second quarter valued at approximately $1,315,659,000. Wellington Management Group LLP grew its position in Ally Financial by 19.5% in the fourth quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider's stock worth $646,347,000 after buying an additional 2,332,610 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ally Financial by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider's stock valued at $353,776,000 after buying an additional 309,638 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Ally Financial by 11.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider's stock valued at $266,134,000 after buying an additional 712,443 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Ally Financial by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock valued at $243,795,000 after acquiring an additional 241,000 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the business's stock in a transaction on 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 transaction, the insider owned 88,927 shares of the company's stock, valued at $3,933,241.21. The trade was a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Ally Financial Trading Down 0.0%

NYSE ALLY opened at $42.58 on Thursday. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29. The firm's fifty day simple moving average is $44.64 and its 200-day simple moving average is $42.63. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $12.95 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.26 and a beta of 1.10.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (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 business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the firm posted $0.99 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Ally Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price objective on Ally Financial from $70.00 to $58.00 and set a "buy" rating for the company in a research note on Tuesday, June 23rd. Weiss Ratings raised Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Wall Street Zen downgraded Ally Financial from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Wells Fargo & Company increased their price target 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 dropped their price target 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. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $53.64.

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.

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