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

AXQ Capital LP lowered its position in Ally Financial Inc. (NYSE:ALLY) by 45.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,907 shares of the financial services provider’s stock after selling 20,673 shares during the period. AXQ Capital LP’s holdings in Ally Financial were worth $976,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Ally Financial by 106.5% in the first quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after acquiring an additional 129,497 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Ally Financial by 22.8% in the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 415 shares during the period. Empowered Funds LLC increased its stake in Ally Financial by 11.1% during the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 1,292 shares in the last quarter. Focus Partners Wealth acquired a new stake in Ally Financial during the 1st quarter worth approximately $259,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in Ally Financial by 1.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 82,045 shares of the financial services provider’s stock valued at $3,196,000 after buying an additional 786 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Stock Performance

Shares of NYSE ALLY opened at $39.96 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $12.31 billion, a P/E ratio of 17.00, a P/E/G ratio of 0.21 and a beta of 1.19. Ally Financial Inc. has a 12 month low of $29.52 and a 12 month high of $47.27. The stock has a 50 day moving average of $43.65 and a 200-day moving average of $41.60.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the prior year, the business earned $0.78 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial declared that its Board of Directors has approved a stock buyback program on Wednesday, December 10th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 15.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors 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 dividend yield of 3.0%. Ally Financial’s payout ratio is presently 51.06%.

Insider Transactions at Ally Financial

In other news, CFO Russell E. Hutchinson acquired 11,566 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were purchased at an average cost of $43.17 per share, with a total value of $499,304.22. Following the acquisition, the chief financial officer directly owned 225,336 shares in the company, valued at $9,727,755.12. This represents a 5.41% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael George Rhodes purchased 23,800 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average price of $41.68 per share, for a total transaction of $991,984.00. Following the completion of the purchase, the chief executive officer directly owned 49,434 shares of the company’s stock, valued at $2,060,409.12. This represents a 92.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ALLY has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. TD Cowen reaffirmed a “buy” rating on shares of Ally Financial in a research note on Thursday, January 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 price objective on shares of Ally Financial in a report on Tuesday, January 6th. Weiss Ratings upgraded shares of Ally Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Ally Financial in a research report on Monday, January 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Ally Financial currently has an average rating of “Moderate Buy” and an average price target of $50.31.

About Ally Financial

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.