SG Americas Securities LLC Cuts Holdings in Ally Financial Inc. $ALLY

Key Points

• SG Americas Securities cut its Ally stake by 84.6% in Q4, selling 44,370 shares and retaining 8,070 shares worth about $365,000.
• Ally topped Q4 estimates with EPS of $1.09 vs. $1.01 and $2.17B revenue, and recently paid a $0.30 quarterly dividend (annualized yield ~2.9%).
• Company insiders increased holdings—CFO bought 11,566 shares and the CEO bought 23,800 shares—and analysts' consensus is a Moderate Buy with a $53.29 target.

SG Americas Securities LLC decreased its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 84.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,070 shares of the financial services provider's stock after selling 44,370 shares during the period. SG Americas Securities LLC's holdings in Ally Financial were worth $365,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Chung Wu Investment Group LLC grew its position in shares of Ally Financial by 224.1% during the third quarter. Chung Wu Investment Group LLC now owns 38,890 shares of the financial services provider's stock valued at $1,524,000 after purchasing an additional 26,890 shares in the last quarter. NewSquare Capital LLC grew its position in shares of Ally Financial by 21,520.9% during the third quarter. NewSquare Capital LLC now owns 27,891 shares of the financial services provider's stock valued at $1,093,000 after purchasing an additional 27,762 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ally Financial during the third quarter valued at about $1,194,000. Principal Financial Group Inc. grew its position in shares of Ally Financial by 7.5% during the third quarter. Principal Financial Group Inc. now owns 674,471 shares of the financial services provider's stock valued at $26,439,000 after purchasing an additional 47,184 shares in the last quarter. Finally, Prana Capital Management LP grew its position in Ally Financial by 177.3% in the third quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider's stock worth $7,007,000 after acquiring an additional 114,305 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company's stock.

Ally Financial Stock Up 1.6%

Shares of NYSE ALLY opened at $41.94 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $12.91 billion, a P/E ratio of 17.84, a PEG ratio of 0.21 and a beta of 1.14. Ally Financial Inc. has a 1 year low of $29.91 and a 1 year high of $47.27. The firm has a 50-day simple moving average of $39.98 and a two-hundred day simple moving average of $41.20.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Research analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.20 annualized dividend and a yield of 2.9%. Ally Financial's dividend payout ratio (DPR) is presently 51.06%.

Insider Activity

In other news, CFO Russell E. Hutchinson acquired 11,566 shares of the firm's stock in a transaction on Tuesday, January 27th. The stock was acquired at an average price of $43.17 per share, with a total value of $499,304.22. Following the completion of the purchase, the chief financial officer directly owned 225,336 shares in the company, valued at approximately $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael George Rhodes purchased 23,800 shares of the firm's stock in a transaction dated Friday, January 23rd. The shares were bought at an average cost of $41.68 per share, with a total value of $991,984.00. Following the purchase, the chief executive officer directly owned 49,434 shares of the company's stock, valued at approximately $2,060,409.12. This represents a 92.85% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ALLY has been the subject of several recent research reports. Wells Fargo & Company upgraded Ally Financial from a "hold" rating to an "overweight" rating in a research report on Wednesday, December 17th. Evercore dropped their price target on Ally Financial from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Thursday, February 5th. Morgan Stanley set a $53.00 price target on Ally Financial and gave the stock an "overweight" rating in a research report on Tuesday, December 16th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 price target on shares of Ally Financial in a research report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. dropped their price target on Ally Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.29.

About Ally Financial

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).

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.