SG Americas Securities LLC Has $1.62 Million Position in Ally Financial Inc. $ALLY

Key Points

• SG Americas Securities LLC boosted its Ally Financial stake by 411.2% in the first quarter, ending with 41,251 shares valued at about $1.62 million.
• Ally Financial reported strong quarterly results, with EPS of $1.11 beating estimates and revenue of $2.18 billion, up 36.4% year over year.
• The company recently paid a $0.30 quarterly dividend and remains well covered, with a 2.7% yield and a payout ratio of 29.27%; analysts currently have a Moderate Buy consensus and average price target of $53.50.

SG Americas Securities LLC grew its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 411.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,251 shares of the financial services provider's stock after acquiring an additional 33,181 shares during the quarter. SG Americas Securities LLC's holdings in Ally Financial were worth $1,618,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALLY. Norges Bank acquired a new position in Ally Financial during the fourth quarter valued at approximately $157,610,000. Wellington Management Group LLP raised its position in shares of Ally Financial by 19.5% during 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 purchasing an additional 2,332,610 shares during the period. Qube Research & Technologies Ltd lifted its stake in Ally Financial by 8,255.7% in the third quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider's stock valued at $48,231,000 after buying an additional 1,215,659 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new stake in Ally Financial in the 3rd quarter valued at $45,733,000. Finally, Bank of America Corp DE lifted its holdings in shares of Ally Financial by 38.9% in the second quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider's stock valued at $146,888,000 after purchasing an additional 1,056,060 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $45.20 on Friday. The stock has a market capitalization of $13.86 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.28 and a beta of 1.09. The business has a 50-day moving average of $43.83 and a 200-day moving average of $42.65. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.29.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) 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 business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. Ally Financial's revenue was up 36.4% on a year-over-year basis. As a group, sell-side analysts predict that Ally Financial Inc. will post 5.26 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, May 1st. Ally Financial's dividend payout ratio is presently 29.27%.

Analyst Upgrades and Downgrades

Several 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 report on Tuesday, June 23rd. Weiss Ratings upgraded Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 23rd. Wall Street Zen downgraded Ally Financial from a "buy" rating to a "hold" rating in a research report on Monday, June 8th. JPMorgan Chase & Co. decreased their price target on shares of Ally Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Finally, Barclays lifted their price objective on shares of Ally Financial from $54.00 to $56.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $53.50.

Insider Activity at Ally Financial

In related news, insider Douglas R. Timmerman sold 39,675 shares of the firm's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the completion of the transaction, the insider directly owned 477,627 shares of the company's stock, valued at approximately $21,574,411.59. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a 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 stock was sold at an average price of $42.14, for a total transaction of $210,700.00. Following the sale, the insider directly owned 93,927 shares in the company, valued at $3,958,083.78. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate 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.

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