Ally Financial Inc. $ALLY Position Reduced by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 97.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sweeney & Michel LLC lifted its position in shares of Ally Financial by 4.0% during the third quarter. Sweeney & Michel LLC now owns 6,663 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 256 shares during the last quarter. Bessemer Group Inc. raised its stake in Ally Financial by 33.5% during the third quarter. Bessemer Group Inc. now owns 1,234 shares of the financial services provider’s stock valued at $49,000 after buying an additional 310 shares in the last quarter. LRI Investments LLC lifted its holdings in Ally Financial by 10.6% during the 3rd quarter. LRI Investments LLC now owns 3,352 shares of the financial services provider’s stock worth $131,000 after buying an additional 320 shares during the last quarter. CI Investments Inc. lifted its holdings in Ally Financial by 20.3% during the 3rd quarter. CI Investments Inc. now owns 1,989 shares of the financial services provider’s stock worth $78,000 after buying an additional 335 shares during the last quarter. Finally, Savant Capital LLC grew its position in shares of Ally Financial by 2.9% in the 3rd quarter. Savant Capital LLC now owns 12,154 shares of the financial services provider’s stock worth $476,000 after acquiring an additional 340 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Insider Activity at Ally Financial

In other Ally Financial news, CFO Russell E. Hutchinson purchased 11,566 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were bought at an average price of $43.17 per share, with a total value of $499,304.22. Following the completion of the acquisition, the chief financial officer owned 225,336 shares in the company, valued at approximately $9,727,755.12. This represents a 5.41% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rhodes acquired 23,800 shares of Ally Financial stock in a transaction dated Friday, January 23rd. The shares were acquired at an average price of $41.68 per share, with a total value of $991,984.00. Following the completion of the transaction, 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 SEC filing for this purchase provides additional information. 0.67% of the stock is currently owned by company insiders.

Ally Financial Stock Performance

ALLY stock opened at $39.82 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 0.20 and a beta of 1.18. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $47.27. The stock’s fifty day moving average is $40.20 and its two-hundred day moving average is $41.34.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. On average, research analysts predict that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial announced that its board has approved a share buyback program on Wednesday, December 10th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 15.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were given a $0.30 dividend. The ex-dividend date was Monday, February 2nd. This represents a $1.20 annualized dividend and a yield of 3.0%. Ally Financial’s dividend payout ratio is 51.06%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial lowered their price target on Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a report on Monday, January 26th. UBS Group set a $48.00 target price on shares of Ally Financial in a research note on Monday, January 12th. TD Cowen reissued a “buy” rating on shares of Ally Financial in a report on Thursday, January 8th. Wells Fargo & Company upgraded shares of Ally Financial from a “hold” rating to an “overweight” rating in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ally Financial from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.67.

About Ally Financial

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.