Assenagon Asset Management S.A. Sells 2,411,770 Shares of Ally Financial Inc. (NYSE:ALLY)

Assenagon Asset Management S.A. lessened its holdings in Ally Financial Inc. (NYSE:ALLY) by 99.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,358 shares of the financial services provider’s stock after selling 2,411,770 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Ally Financial were worth $670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Ally Financial by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 28,252,149 shares of the financial services provider’s stock valued at $1,017,360,000 after buying an additional 111,231 shares during the period. Geode Capital Management LLC increased its holdings in Ally Financial by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 4,895,467 shares of the financial services provider’s stock valued at $175,990,000 after buying an additional 184,278 shares during the period. First Manhattan CO. LLC. increased its holdings in Ally Financial by 4.8% in the 4th quarter. First Manhattan CO. LLC. now owns 4,226,639 shares of the financial services provider’s stock valued at $153,752,000 after buying an additional 192,295 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Ally Financial by 84.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider’s stock valued at $151,320,000 after buying an additional 1,918,965 shares during the period. Finally, Northern Trust Corp increased its holdings in Ally Financial by 28.0% in the 4th quarter. Northern Trust Corp now owns 3,941,459 shares of the financial services provider’s stock valued at $141,932,000 after buying an additional 863,052 shares during the period. Institutional investors own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALLY shares. The Goldman Sachs Group upped their target price on shares of Ally Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Ally Financial in a report on Monday, April 21st. Truist Financial upped their target price on shares of Ally Financial from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Bank of America lowered their target price on shares of Ally Financial from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ally Financial from $43.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Ally Financial has a consensus rating of “Hold” and an average price target of $41.88.

Ally Financial Stock Up 1.8%

Shares of NYSE ALLY opened at $36.79 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.38. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $45.46. The company has a market cap of $11.30 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 0.34 and a beta of 1.14. The firm’s 50-day simple moving average is $34.25 and its 200 day simple moving average is $35.74.

Ally Financial (NYSE:ALLY) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.15. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $2.04 billion. Ally Financial had a net margin of 6.96% and a return on equity of 9.53%. During the same quarter last year, the firm earned $0.45 EPS. On average, research analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Thursday, May 1st. Ally Financial’s dividend payout ratio (DPR) is presently 88.24%.

Insider Activity

In related news, insider Stephanie N. Richard sold 8,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total value of $257,120.00. Following the sale, the insider now directly owns 90,387 shares in the company, valued at $2,905,038.18. This trade represents a 8.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Russell E. Hutchinson purchased 8,200 shares of the business’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was purchased at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the completion of the transaction, the chief financial officer now directly owns 236,421 shares in the company, valued at $7,284,131.01. This trade represents a 3.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

Ally Financial Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.