Ally Financial Sees Unusually High Options Volume (NYSE:ALLY)

Ally Financial Inc. (NYSE:ALLY) was the target of some unusual options trading activity on Friday. Stock traders acquired 33,732 call options on the company. This represents an increase of 822% compared to the typical volume of 3,658 call options.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.14, for a total value of $210,700.00. Following the completion of the transaction, the insider directly owned 93,927 shares of the company’s stock, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of Ally Financial

Several large investors have recently modified their holdings of the company. Oldfield Partners LLP increased its position in Ally Financial by 27.4% during the second quarter. Oldfield Partners LLP now owns 1,615,100 shares of the financial services provider’s stock valued at $74,214,000 after acquiring an additional 347,700 shares during the last quarter. Oliver Luxxe Assets LLC lifted its holdings in Ally Financial by 36.6% in the second quarter. Oliver Luxxe Assets LLC now owns 11,639 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 3,121 shares during the period. Assenagon Asset Management S.A. boosted its position in Ally Financial by 75.6% in the second quarter. Assenagon Asset Management S.A. now owns 895,286 shares of the financial services provider’s stock worth $41,138,000 after purchasing an additional 385,311 shares during the last quarter. GAMMA Investing LLC boosted its position in Ally Financial by 16.2% in the second quarter. GAMMA Investing LLC now owns 12,097 shares of the financial services provider’s stock worth $556,000 after purchasing an additional 1,690 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Ally Financial by 17.5% during the 2nd quarter. Versant Capital Management Inc now owns 6,869 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 1,023 shares during the period. Institutional investors own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

ALLY has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on shares of Ally Financial from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Barclays lifted their target price on Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Truist Financial set a $54.00 price target on Ally Financial in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada upped their price target on Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ally Financial presently has an average rating of “Moderate Buy” and an average target price of $53.79.

Ally Financial Stock Down 2.6%

ALLY opened at $45.61 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average price of $44.10 and a 200-day moving average price of $42.66. Ally Financial has a twelve month low of $35.92 and a twelve month high of $47.29. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.26 and a beta of 1.09.

Ally Financial (NYSE:ALLY) last issued 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 net margin of 16.47% and a return on equity of 11.41%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the company posted $0.58 earnings per share. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. Equities research analysts forecast that Ally Financial will post 5.31 earnings per share for the current year.

Ally Financial Company 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.