Ally Financial Target of Unusually Large Options Trading (NYSE:ALLY)

Ally Financial Inc (NYSE:ALLY) saw unusually large options trading activity on Thursday. Stock traders purchased 46,013 call options on the stock. This is an increase of 1,890% compared to the typical daily volume of 2,312 call options.

ALLY opened at $32.22 on Friday. The business has a 50 day moving average of $30.10. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.11 and a quick ratio of 1.11. Ally Financial has a 1 year low of $20.60 and a 1 year high of $32.35. The firm has a market capitalization of $12.47 billion, a PE ratio of 9.65, a PEG ratio of 0.62 and a beta of 1.31.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Ally Financial had a net margin of 23.12% and a return on equity of 10.90%. Ally Financial’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 earnings per share. On average, research analysts expect that Ally Financial will post 3.61 earnings per share for the current year.

Ally Financial declared that its Board of Directors has authorized a share repurchase plan on Monday, April 1st that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 10.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Mayree C. Clark purchased 5,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $29.71 per share, with a total value of $148,550.00. Following the purchase, the director now directly owns 46,248 shares of the company’s stock, valued at $1,374,028.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David J. Debrunner sold 2,222 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.80, for a total transaction of $63,993.60. Following the sale, the chief accounting officer now directly owns 107,979 shares in the company, valued at $3,109,795.20. The disclosure for this sale can be found here. Insiders have sold a total of 6,666 shares of company stock worth $199,802 over the last ninety days. 0.35% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in ALLY. Standard Life Aberdeen plc raised its stake in shares of Ally Financial by 0.5% during the fourth quarter. Standard Life Aberdeen plc now owns 148,501 shares of the financial services provider’s stock valued at $3,321,000 after purchasing an additional 684 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in shares of Ally Financial by 2.1% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 38,692 shares of the financial services provider’s stock valued at $1,064,000 after purchasing an additional 809 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Ally Financial during the first quarter valued at approximately $31,000. First Hawaiian Bank raised its stake in shares of Ally Financial by 5.9% during the first quarter. First Hawaiian Bank now owns 21,780 shares of the financial services provider’s stock valued at $599,000 after purchasing an additional 1,221 shares during the period. Finally, Private Capital Group LLC raised its stake in shares of Ally Financial by 69.8% during the first quarter. Private Capital Group LLC now owns 3,090 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 1,270 shares during the period. 97.02% of the stock is currently owned by hedge funds and other institutional investors.

ALLY has been the topic of several analyst reports. Morgan Stanley cut shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research note on Monday, April 22nd. BMO Capital Markets set a $44.00 price target on shares of Schlumberger and gave the stock a “hold” rating in a research note on Monday, April 22nd. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Citigroup set a $95.00 price target on shares of iRobot and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Oppenheimer set a $119.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.25.

Ally Financial Company Profile

Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, 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.

Further Reading: How dollar cost averaging works

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