PDT Partners LLC Makes New Investment in Ally Financial Inc. $ALLY

PDT Partners LLC bought a new position in shares of Ally Financial Inc. (NYSE:ALLY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 44,842 shares of the financial services provider’s stock, valued at approximately $2,060,000.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Ally Financial during the fourth quarter valued at $29,000. Trust Co. of Vermont purchased a new stake in shares of Ally Financial in the 2nd quarter worth about $36,000. Fideuram Asset Management Ireland dac bought a new position in shares of Ally Financial in the 4th quarter worth about $35,000. Safe Harbor Fiduciary LLC bought a new position in shares of Ally Financial in the 4th quarter worth about $37,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Ally Financial during the 4th quarter valued at about $38,000. 88.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the transaction, the insider owned 88,927 shares in the company, valued at $3,933,241.21. This trade represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Wells Fargo & Company boosted their price target on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Royal Bank Of Canada raised their price objective on Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Finally, Truist Financial dropped their target price on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ally Financial currently has an average rating of “Moderate Buy” and a consensus price target of $53.64.

Ally Financial Trading Down 0.0%

Ally Financial stock opened at $42.58 on Thursday. Ally Financial Inc. has a 52-week low of $35.92 and a 52-week high of $47.29. The company has a market cap of $12.95 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.26 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business has a 50-day simple moving average of $44.64 and a two-hundred day simple moving average of $42.63.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.01). The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.Ally Financial’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. Analysts predict that Ally Financial Inc. will post 5.19 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared 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 2.8%. Ally Financial’s dividend payout ratio (DPR) is presently 28.30%.

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.