Assenagon Asset Management S.A. Trims Stake in Ally Financial Inc. $ALLY

Assenagon Asset Management S.A. decreased its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 97.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,948 shares of the financial services provider’s stock after selling 373,883 shares during the period. Assenagon Asset Management S.A.’s holdings in Ally Financial were worth $451,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Ally Financial in the 2nd quarter valued at about $95,897,000. Wellington Management Group LLP raised its holdings in Ally Financial by 19.6% in the 3rd quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock valued at $467,996,000 after acquiring an additional 1,958,201 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Ally Financial by 39.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider’s stock worth $210,352,000 after purchasing an additional 1,523,425 shares during the period. Marshall Wace LLP acquired a new stake in shares of Ally Financial during the second quarter worth $51,661,000. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Ally Financial by 8,255.7% during the third quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock worth $48,231,000 after purchasing an additional 1,215,659 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, CEO Michael George Rhodes purchased 23,800 shares of Ally Financial stock in a transaction that occurred on Friday, January 23rd. The stock was purchased at an average price of $41.68 per share, with a total value of $991,984.00. Following the completion of the acquisition, the chief executive officer owned 49,434 shares of the company’s stock, valued at approximately $2,060,409.12. This trade represents a 92.85% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Russell E. Hutchinson acquired 11,566 shares of the stock in a transaction on Tuesday, January 27th. The shares were acquired at an average price of $43.17 per share, with a total value of $499,304.22. Following the purchase, the chief financial officer owned 225,336 shares in the company, valued at $9,727,755.12. This represents a 5.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.67% of the company’s stock.

Ally Financial Stock Up 1.5%

Shares of Ally Financial stock opened at $39.82 on Thursday. Ally Financial Inc. has a twelve month low of $29.52 and a twelve month high of $47.27. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 0.20 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The company has a fifty day moving average price of $40.20 and a 200 day moving average price of $41.34.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. Equities research analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, February 2nd. Ally Financial’s dividend payout ratio (DPR) is presently 51.06%.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays lifted their price target on Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Ally Financial from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Morgan Stanley set a $53.00 price target on shares of Ally Financial and gave the company an “overweight” rating in a report on Tuesday, December 16th. Evercore lowered their price objective on shares of Ally Financial from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Finally, TD Cowen reissued a “buy” rating on shares of Ally Financial in a research report on Thursday, January 8th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Ally Financial has a consensus rating of “Moderate Buy” and an average price target of $51.67.

Ally Financial 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.