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

Ally Financial Inc. (NYSE:ALLY) was the target of unusually large options trading on Tuesday. Stock investors acquired 31,808 call options on the stock. This is an increase of approximately 706% compared to the average volume of 3,948 call options.

Ally Financial Stock Performance

Shares of NYSE ALLY traded up $0.27 during mid-day trading on Tuesday, hitting $45.71. 1,121,294 shares of the company were exchanged, compared to its average volume of 3,638,167. The stock has a 50 day simple moving average of $42.92 and a 200-day simple moving average of $42.34. Ally Financial has a 1-year low of $35.92 and a 1-year high of $47.27. 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 market cap of $14.01 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.93 by $0.18. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The business’s revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the business earned $0.58 EPS. On average, sell-side analysts forecast that Ally Financial will post 5.28 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.30 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. Ally Financial’s dividend payout ratio is currently 29.27%.

Analyst Ratings Changes

ALLY has been the topic of several research analyst reports. Morgan Stanley lifted their price target on shares of Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. dropped their price objective on Ally Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. The Goldman Sachs Group lifted their price target on Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Weiss Ratings cut shares of Ally Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Finally, Truist Financial set a $54.00 price target on shares of Ally Financial in a research report on Tuesday, April 21st. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.14.

Insider Activity at Ally Financial

In other Ally Financial news, insider Douglas R. Timmerman sold 39,675 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the sale, the insider owned 477,627 shares of the company’s stock, valued at approximately $21,574,411.59. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $42.14, for a total transaction of $210,700.00. Following the sale, the insider directly owned 93,927 shares in the company, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their position. The SEC filing for this sale provides additional information. 0.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Ally Financial

A number of large investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA raised its position in Ally Financial by 88.4% during the first quarter. Glenmede Trust Co. NA now owns 51,806 shares of the financial services provider’s stock worth $2,032,000 after acquiring an additional 24,302 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Ally Financial in the 1st quarter valued at approximately $79,000. Bank of America Corp DE grew its holdings in Ally Financial by 7.1% during the 1st quarter. Bank of America Corp DE now owns 2,889,620 shares of the financial services provider’s stock valued at $113,360,000 after buying an additional 190,514 shares during the last quarter. Centaurus Financial Inc. acquired a new position in shares of Ally Financial in the first quarter worth $942,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Ally Financial by 122.7% in the first quarter. EverSource Wealth Advisors LLC now owns 3,243 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 1,787 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

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.