PDT Partners LLC Takes $2.06 Million Position in Ally Financial Inc. $ALLY

Key Points

• PDT Partners acquired 44,842 Ally Financial shares during the second quarter, establishing a new position valued at approximately $2.06 million. Institutional investors collectively own 88.76% of the company.
• Ally reported quarterly revenue of $2.28 billion, up 9.8% year over year, though earnings per share of $1.21 slightly missed analyst estimates. The company maintains a quarterly dividend of $0.30, equivalent to a 2.8% annualized yield.
• Analysts remain broadly positive, with 14 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $53.64 versus the stock’s opening price of $42.58.

PDT Partners LLC acquired a new position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 44,842 shares of the financial services provider's stock, valued at approximately $2,060,000.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Ally Financial during the fourth quarter worth about $29,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Ally Financial in the 4th quarter worth about $35,000. Trust Co. of Vermont bought a new position in shares of Ally Financial during the 2nd quarter valued at about $36,000. Safe Harbor Fiduciary LLC bought a new position in shares of Ally Financial during the 4th quarter valued at about $37,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Ally Financial during the 4th quarter valued at about $38,000. Institutional investors own 88.76% of the company's stock.

Insider Activity

In related 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 in the company, valued at $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company's stock.

Ally Financial Price Performance

Shares of Ally Financial stock opened at $42.58 on Thursday. The firm has a market cap 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 Inc. has a 12-month low of $35.92 and a 12-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's fifty day simple moving average is $44.64 and its two-hundred day simple moving average is $42.63.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its 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). The firm had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 earnings per share. As a group, equities analysts expect that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Dividend Announcement

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

Analysts Set New Price Targets

ALLY has been the subject of several research reports. Bank of America upped their target price on Ally Financial from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Citigroup decreased their price target on shares of Ally Financial from $70.00 to $58.00 and set a "buy" rating on the stock in a research note on Tuesday, June 23rd. Wells Fargo & Company boosted their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Wall Street Zen cut shares of Ally Financial from a "buy" rating to a "hold" rating in a research note on Monday, June 8th. Finally, Truist Financial reduced their target price on shares of Ally Financial from $54.00 to $51.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $53.64.

Ally Financial Company 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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