Ally Financial Inc. (NYSE:ALLY) Short Interest Update

Ally Financial Inc. (NYSE:ALLY) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 18,710,000 shares, a growth of 26.5% from the March 15th total of 14,790,000 shares. Approximately 5.0% of the shares of the company are short sold. Based on an average daily trading volume, of 4,410,000 shares, the short-interest ratio is presently 4.2 days.

A number of equities analysts have recently weighed in on ALLY shares. Evercore ISI began coverage on Ally Financial in a research note on Wednesday, April 14th. They issued an “outperform” rating and a $55.00 target price on the stock. Janney Montgomery Scott upped their price objective on Ally Financial from $40.00 to $45.00 in a research note on Wednesday, January 13th. JPMorgan Chase & Co. upped their price objective on Ally Financial from $48.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, April 15th. They noted that the move was a valuation call. Bank of America began coverage on Ally Financial in a research note on Monday, April 12th. They issued a “buy” rating and a $64.00 price objective on the stock. Finally, Barclays upped their price objective on Ally Financial from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Ally Financial has an average rating of “Buy” and a consensus price target of $42.90.

In other news, CEO Jeffrey Jonathan Brown sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $43.09, for a total value of $646,350.00. Following the transaction, the chief executive officer now owns 680,909 shares in the company, valued at approximately $29,340,368.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO David J. Debrunner sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $47.13, for a total value of $1,296,075.00. Following the completion of the transaction, the chief accounting officer now owns 74,335 shares in the company, valued at approximately $3,503,408.55. The disclosure for this sale can be found here. Insiders sold a total of 54,543 shares of company stock worth $2,496,725 in the last 90 days. Company insiders own 0.36% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Achmea Investment Management B.V. boosted its holdings in shares of Ally Financial by 23.5% during the fourth quarter. Achmea Investment Management B.V. now owns 81,802 shares of the financial services provider’s stock worth $2,917,000 after purchasing an additional 15,563 shares during the period. Strs Ohio boosted its holdings in shares of Ally Financial by 603.5% during the fourth quarter. Strs Ohio now owns 39,352 shares of the financial services provider’s stock worth $1,403,000 after purchasing an additional 33,758 shares during the period. Lazard Asset Management LLC raised its stake in Ally Financial by 79,744.5% in the fourth quarter. Lazard Asset Management LLC now owns 612,407 shares of the financial services provider’s stock worth $21,838,000 after buying an additional 611,640 shares in the last quarter. Nippon Life Global Investors Americas Inc. raised its stake in Ally Financial by 16.4% in the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 244,100 shares of the financial services provider’s stock worth $8,705,000 after buying an additional 34,440 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new position in Ally Financial in the fourth quarter worth about $296,000. Institutional investors own 92.07% of the company’s stock.

NYSE ALLY opened at $46.79 on Wednesday. The company has a 50-day simple moving average of $45.79 and a two-hundred day simple moving average of $37.09. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.82. Ally Financial has a 12-month low of $13.29 and a 12-month high of $49.49. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 22.94 and a beta of 1.61.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, April 15th. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.91. Ally Financial had a net margin of 12.22% and a return on equity of 6.43%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the business posted ($0.44) earnings per share. The company’s revenue was up 20.2% on a year-over-year basis. Equities analysts expect that Ally Financial will post 2.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Friday, April 30th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.62%. Ally Financial’s dividend payout ratio is currently 20.43%.

About Ally Financial

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

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