Squarepoint Ops LLC Grows Holdings in Ally Financial Inc. $ALLY

Squarepoint Ops LLC increased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 9.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,108 shares of the financial services provider’s stock after purchasing an additional 12,157 shares during the period. Squarepoint Ops LLC’s holdings in Ally Financial were worth $6,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allworth Financial LP raised its holdings in shares of Ally Financial by 36.8% in the second quarter. Allworth Financial LP now owns 12,952 shares of the financial services provider’s stock valued at $595,000 after buying an additional 3,485 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Ally Financial by 0.4% during the second quarter. Arizona State Retirement System now owns 76,467 shares of the financial services provider’s stock worth $3,514,000 after buying an additional 296 shares during the last quarter. Waverly Advisors LLC grew its holdings in shares of Ally Financial by 1.3% during the second quarter. Waverly Advisors LLC now owns 23,749 shares of the financial services provider’s stock worth $1,091,000 after buying an additional 307 shares during the last quarter. Nykredit A S acquired a new position in Ally Financial in the 2nd quarter valued at about $305,000. Finally, Corient Private Wealth LP increased its position in Ally Financial by 2.9% in the 2nd quarter. Corient Private Wealth LP now owns 227,844 shares of the financial services provider’s stock valued at $10,470,000 after acquiring an additional 6,452 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Price Performance

Shares of ALLY opened at $42.08 on Friday. Ally Financial Inc. has a twelve month low of $35.92 and a twelve month high of $47.29. The stock’s 50 day moving average is $43.85 and its two-hundred day moving average is $42.70. The firm has a market capitalization of $12.80 billion, a PE ratio of 9.93, a P/E/G ratio of 0.26 and a beta of 1.09. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26.

Ally Financial (NYSE:ALLY) 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 business 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $0.99 earnings per share. Research analysts anticipate that Ally Financial Inc. will post 5.2 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders 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 annualized dividend and a yield of 2.9%. Ally Financial’s dividend payout ratio is presently 28.30%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALLY shares. Citigroup decreased 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. Raymond James Financial began coverage on Ally Financial in a report on Tuesday, September 1st. They issued a “strong-buy” rating and a $55.00 target price on the stock. Wall Street Zen cut Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $58.00 price target on shares of Ally Financial in a report on Wednesday, July 22nd. Finally, Truist Financial lowered their price objective on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.73.

Insider Transactions at Ally Financial

In other Ally Financial 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 value of $221,150.00. Following the completion of the sale, the insider owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

About Ally Financial

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.