Assenagon Asset Management S.A. Has $15.05 Million Position in Ally Financial Inc. $ALLY

Assenagon Asset Management S.A. lessened its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 69.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,831 shares of the financial services provider’s stock after selling 859,942 shares during the period. Assenagon Asset Management S.A. owned approximately 0.12% of Ally Financial worth $15,046,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. HighTower Advisors LLC lifted its stake in Ally Financial by 17.8% in the first quarter. HighTower Advisors LLC now owns 69,147 shares of the financial services provider’s stock valued at $2,522,000 after buying an additional 10,444 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Ally Financial by 15.5% during the first quarter. American Century Companies Inc. now owns 580,953 shares of the financial services provider’s stock worth $21,187,000 after acquiring an additional 78,028 shares during the period. Cresset Asset Management LLC bought a new stake in Ally Financial in the 1st quarter valued at $613,000. Raymond James Financial Inc. boosted its stake in Ally Financial by 144.3% in the 1st quarter. Raymond James Financial Inc. now owns 158,549 shares of the financial services provider’s stock worth $5,782,000 after purchasing an additional 93,660 shares during the period. Finally, Algert Global LLC increased its holdings in Ally Financial by 339.8% during the 1st quarter. Algert Global LLC now owns 48,355 shares of the financial services provider’s stock worth $1,764,000 after purchasing an additional 37,360 shares in the last quarter. 88.76% of the stock is owned by institutional investors.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Kathleen L. Patterson sold 29,000 shares of the company’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total value of $1,184,940.00. Following the transaction, the insider directly owned 100,203 shares of the company’s stock, valued at $4,094,294.58. This represents a 22.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.67% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Ally Financial in a report on Monday. TD Cowen upgraded Ally Financial from a “hold” rating to a “buy” rating and boosted their target price for the company from $43.00 to $50.00 in a research note on Monday, October 20th. Truist Financial upped their price target on Ally Financial from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Citigroup lifted their price objective on shares of Ally Financial from $59.00 to $70.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Wall Street Zen cut shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ally Financial has a consensus rating of “Moderate Buy” and a consensus price target of $46.20.

Ally Financial Stock Performance

Shares of ALLY stock opened at $45.66 on Friday. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $46.24. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 0.31 and a beta of 1.22. The company has a 50-day simple moving average of $40.87 and a 200 day simple moving average of $39.88. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. The firm had revenue of $2.06 billion for the quarter. On average, sell-side analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial declared that its board has approved a stock buyback plan on Wednesday, December 10th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 15.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, October 31st. Ally Financial’s dividend payout ratio (DPR) is presently 72.29%.

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.