Squarepoint Ops LLC Raises Stock Position in Ally Financial Inc. $ALLY

Squarepoint Ops LLC lifted its position in shares of Ally Financial Inc. (NYSE:ALLYFree Report) by 9.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 136,108 shares of the financial services provider’s stock after buying an additional 12,157 shares during the period. Squarepoint Ops LLC’s holdings in Ally Financial were worth $6,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ALLY. BlackRock Inc. acquired a new position in Ally Financial during the second quarter worth $1,315,659,000. Berkshire Hathaway Inc purchased a new position in shares of Ally Financial in the second quarter valued at $1,240,650,000. California State Teachers Retirement System raised its stake in shares of Ally Financial by 4,362.7% during the 2nd quarter. California State Teachers Retirement System now owns 14,336,308 shares of the financial services provider’s stock worth $658,753,000 after buying an additional 14,015,057 shares during the last quarter. Donald Smith & CO. Inc. acquired a new position in shares of Ally Financial during the 2nd quarter worth $172,509,000. Finally, Norges Bank purchased a new stake in shares of Ally Financial in the 4th quarter worth about $157,610,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Insider Activity

In other news, insider Stephanie Richard sold 5,000 shares of the firm’s stock in a transaction 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 sale, the insider owned 88,927 shares in the company, valued at $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on ALLY. Bank of America increased their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wells Fargo & Company upped 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. Royal Bank Of Canada increased their price target on shares of Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Weiss Ratings raised shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Finally, Truist Financial cut their price objective on Ally Financial from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.73.

Check Out Our Latest Stock Report on ALLY

Ally Financial Stock Performance

NYSE:ALLY opened at $42.08 on Friday. The firm has a 50 day simple moving average of $43.85 and a 200-day simple moving average of $42.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $12.80 billion, a PE ratio of 9.93, a P/E/G ratio of 0.26 and a beta of 1.09. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29.

Ally Financial (NYSE:ALLYGet Free Report) last announced 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 firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, equities analysts expect that Ally Financial Inc. will post 5.2 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, July 31st. Ally Financial’s dividend payout ratio is currently 28.30%.

Ally Financial Company Profile

(Free Report)

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan. Through its subsidiaries, the company provides consumer and commercial financial products, with a primary focus on automotive financing and digital banking.

Ally’s automotive business offers retail installment sales contracts, consumer loans and leasing products through a network of automotive dealers. The company also provides dealer financing and related commercial lending services. Through Ally Bank, it offers deposit accounts, personal loans, mortgage products and other banking services, while Ally Invest provides self-directed investment and brokerage services to individuals.

The company serves customers primarily in the United States through digital platforms, dealer relationships and other distribution channels.

See Also

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:ALLYFree Report).

Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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