Short Interest in Ally Financial Inc. (NYSE:ALLY) Expands By 28.0%

Ally Financial Inc. (NYSE:ALLYGet Rating) was the target of a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 16,280,000 shares, a growth of 28.0% from the December 15th total of 12,720,000 shares. Based on an average daily trading volume, of 5,340,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 5.5% of the shares of the stock are short sold.

Insider Buying and Selling

In other Ally Financial news, Director Marjorie Magner purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The stock was purchased at an average cost of $27.43 per share, with a total value of $54,860.00. Following the acquisition, the director now directly owns 55,603 shares of the company’s stock, valued at approximately $1,525,190.29. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ally Financial

Several institutional investors and hedge funds have recently modified their holdings of ALLY. State Street Corp grew its position in shares of Ally Financial by 3.3% in the first quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock valued at $380,424,000 after purchasing an additional 281,795 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Ally Financial by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 6,526,831 shares of the financial services provider’s stock worth $181,671,000 after acquiring an additional 23,879 shares during the last quarter. Royal Bank of Canada raised its position in Ally Financial by 5.6% in the first quarter. Royal Bank of Canada now owns 6,035,703 shares of the financial services provider’s stock valued at $262,433,000 after purchasing an additional 320,049 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Ally Financial by 25.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,924,412 shares of the financial services provider’s stock worth $131,507,000 after purchasing an additional 789,658 shares during the period. Finally, Magnolia Group LLC increased its position in shares of Ally Financial by 9.4% during the 4th quarter. Magnolia Group LLC now owns 3,407,000 shares of the financial services provider’s stock worth $83,301,000 after purchasing an additional 292,000 shares during the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Analysts Set New Price Targets

ALLY has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price objective on Ally Financial from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. Piper Sandler raised shares of Ally Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $28.00 in a research note on Monday, January 9th. Citigroup dropped their target price on Ally Financial from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, October 20th. StockNews.com downgraded Ally Financial from a “hold” rating to a “sell” rating in a research report on Monday, December 5th. Finally, Jefferies Financial Group cut Ally Financial from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $25.00 in a research report on Tuesday, January 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.97.

Ally Financial Stock Performance

Shares of ALLY stock opened at $31.43 on Friday. The stock has a market cap of $9.39 billion, a PE ratio of 5.30 and a beta of 1.27. The business has a 50-day simple moving average of $25.73 and a 200-day simple moving average of $29.46. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.64. Ally Financial has a 52-week low of $22.34 and a 52-week high of $51.05.

Ally Financial (NYSE:ALLYGet Rating) last announced its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.61). Ally Financial had a net margin of 24.78% and a return on equity of 19.51%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. Ally Financial’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts expect that Ally Financial will post 5.99 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.82%. Ally Financial’s dividend payout ratio is presently 20.24%.

About Ally Financial

(Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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