AXQ Capital LP Sells 20,673 Shares of Ally Financial Inc. $ALLY

AXQ Capital LP lessened its stake in Ally Financial Inc. (NYSE:ALLY) by 45.4% in the third quarter, Holdings Channel reports. The firm owned 24,907 shares of the financial services provider’s stock after selling 20,673 shares during the quarter. AXQ Capital LP’s holdings in Ally Financial were worth $976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALLY. MAI Capital Management boosted its holdings in shares of Ally Financial by 45.1% in the 2nd quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 303 shares in the last quarter. Bessemer Group Inc. increased its position in Ally Financial by 33.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,234 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 310 shares in the last quarter. Econ Financial Services Corp boosted its position in Ally Financial by 0.5% in the second quarter. Econ Financial Services Corp now owns 59,993 shares of the financial services provider’s stock valued at $2,337,000 after buying an additional 311 shares in the last quarter. LRI Investments LLC lifted its stake in shares of Ally Financial by 10.6% in the 3rd quarter. LRI Investments LLC now owns 3,352 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 320 shares during the last quarter. Finally, Savant Capital LLC grew its position in Ally Financial by 2.9% during the 3rd quarter. Savant Capital LLC now owns 12,154 shares of the financial services provider’s stock worth $476,000 after acquiring an additional 340 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Trading Down 5.1%

Shares of Ally Financial stock opened at $39.96 on Tuesday. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $47.27. The stock has a fifty day moving average price of $43.65 and a 200-day moving average price of $41.60. 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 firm has a market cap of $12.31 billion, a PE ratio of 17.00, a P/E/G ratio of 0.21 and a beta of 1.19.

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

Ally Financial declared that its board has authorized a share buyback plan on Wednesday, December 10th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 15.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.20 annualized dividend and a yield of 3.0%. Ally Financial’s dividend payout ratio is 51.06%.

Insider Activity

In other Ally Financial news, CEO Michael George Rhodes acquired 23,800 shares of Ally Financial stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average cost of $41.68 per share, for a total transaction of $991,984.00. Following the purchase, the chief executive officer owned 49,434 shares of the company’s stock, valued at approximately $2,060,409.12. This represents a 92.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Russell E. Hutchinson bought 11,566 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were bought at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the transaction, the chief financial officer owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. This represents a 5.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Ally Financial from a “hold” rating to an “overweight” rating in a research note on Wednesday, December 17th. Truist Financial dropped their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. TD Cowen reiterated a “buy” rating on shares of Ally Financial in a report on Thursday, January 8th. JPMorgan Chase & Co. lifted their target price on Ally Financial from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $52.00 target price on shares of Ally Financial in a research note on Monday, January 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.31.

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.