Moore Capital Management LP Cuts Holdings in Ally Financial Inc. $ALLY

Key Points

• Moore Capital Management reduced its Ally Financial stake by 29.9% in the fourth quarter, selling 636,000 shares and ending with 1,491,829 shares valued at about $67.6 million.
• Ally Financial’s latest quarterly results beat expectations, with EPS of $1.11 versus the $0.93 consensus and revenue of $2.18 billion, up 36.4% year over year.
• Analyst sentiment remains generally positive, with 14 Buy ratings and 2 Hold ratings, giving the stock a Moderate Buy consensus and an average target price of $54.14.

Moore Capital Management LP cut its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 29.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,491,829 shares of the financial services provider's stock after selling 636,000 shares during the quarter. Ally Financial comprises 1.0% of Moore Capital Management LP's investment portfolio, making the stock its 8th biggest holding. Moore Capital Management LP owned approximately 0.48% of Ally Financial worth $67,565,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Ally Financial in the fourth quarter worth $29,000. Fideuram Asset Management Ireland dac bought a new stake in Ally Financial in the fourth quarter worth $35,000. Harvest Fund Management Co. Ltd bought a new stake in Ally Financial in the fourth quarter worth $38,000. SBI Securities Co. Ltd. boosted its holdings in Ally Financial by 43.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 904 shares of the financial services provider's stock worth $41,000 after acquiring an additional 276 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in Ally Financial by 805.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 896 shares of the financial services provider's stock worth $41,000 after acquiring an additional 797 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Truist Financial set a $54.00 target price on Ally Financial in a report on Tuesday, April 21st. Weiss Ratings downgraded Ally Financial from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, May 26th. Bank of America boosted their target price on Ally Financial from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, April 10th. Wall Street Zen downgraded Ally Financial from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Finally, Morgan Stanley boosted their price target on Ally Financial from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, April 20th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Ally Financial currently has a consensus rating of "Moderate Buy" and an average target price of $54.14.

Ally Financial Stock Down 0.5%

ALLY stock opened at $45.44 on Thursday. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.27. The business has a fifty day moving average price of $43.14 and a 200-day moving average price of $42.41. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $13.93 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.28 and a beta of 1.10.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. The company's revenue was up 36.4% on a year-over-year basis. Equities analysts forecast that Ally Financial Inc. will post 5.28 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, May 1st. Ally Financial's dividend payout ratio is 29.27%.

Insiders Place Their Bets

In related news, insider Douglas R. Timmerman sold 39,675 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the completion of the sale, the insider owned 477,627 shares in the company, valued at approximately $21,574,411.59. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie N. Richard sold 5,000 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $42.14, for a total value of $210,700.00. Following the sale, the insider owned 93,927 shares of the company's stock, valued at approximately $3,958,083.78. This trade represents a 5.05% decrease in their position. The SEC filing for this sale provides additional information. 0.46% of the stock is currently owned by corporate insiders.

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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