Parallax Volatility Advisers L.P. Invests $1.65 Million in Ally Financial Inc. $ALLY

Parallax Volatility Advisers L.P. purchased a new position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,830 shares of the financial services provider's stock, valued at approximately $1,646,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ally Financial during the 4th quarter worth about $29,000. Fideuram Asset Management Ireland dac acquired a new position in Ally Financial in the 4th quarter valued at $35,000. Trust Co. of Vermont bought a new position in shares of Ally Financial in the second quarter worth about $36,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Ally Financial in the fourth quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Ally Financial during the 4th quarter worth about $38,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ALLY. Wall Street Zen downgraded Ally Financial from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Wells Fargo & Company raised their price target on shares of Ally Financial from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Citigroup dropped their price objective on shares of 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 upped their price objective on Ally Financial from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Finally, Truist Financial decreased their price objective on Ally Financial from $54.00 to $51.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Fourteen 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.64.

Ally Financial Stock Performance

ALLY stock opened at $42.58 on Thursday. Ally Financial Inc. has a twelve month low of $35.92 and a twelve month high of $47.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market cap of $12.95 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 0.26 and a beta of 1.10. The business's fifty day moving average is $44.64 and its 200-day moving average is $42.63.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.01). The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.Ally Financial's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. Equities research analysts forecast that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Announces Dividend

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

Insider Buying and Selling

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the company'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 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. This represents a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source