Allianz Asset Management GmbH Cuts Stake in Ally Financial Inc. (NYSE:ALLY)

Allianz Asset Management GmbH cut its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 23.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,615,031 shares of the financial services provider's stock after selling 491,697 shares during the period. Allianz Asset Management GmbH owned 0.53% of Ally Financial worth $58,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. IFP Advisors Inc increased its stake in shares of Ally Financial by 1,424.5% in the 1st quarter. IFP Advisors Inc now owns 21,007 shares of the financial services provider's stock valued at $769,000 after acquiring an additional 19,629 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in Ally Financial by 0.3% in the 1st quarter. AustralianSuper Pty Ltd now owns 2,771,009 shares of the financial services provider's stock worth $101,059,000 after purchasing an additional 9,263 shares during the period. South Dakota Investment Council bought a new position in shares of Ally Financial during the first quarter worth about $3,370,000. Kestra Private Wealth Services LLC grew its stake in shares of Ally Financial by 21.8% during the 1st quarter. Kestra Private Wealth Services LLC now owns 180,181 shares of the financial services provider's stock worth $6,571,000 after acquiring an additional 32,248 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in Ally Financial in the first quarter valued at $498,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Trading Up 0.4%

Shares of ALLY traded up $0.16 during trading hours on Friday, hitting $38.54. The company had a trading volume of 2,691,746 shares, compared to its average volume of 3,354,050. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $45.46. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The stock's 50 day moving average price is $37.60 and its 200 day moving average price is $36.22. The firm has a market cap of $11.84 billion, a P/E ratio of 25.02, a P/E/G ratio of 0.30 and a beta of 1.15.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.21. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The company's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. On average, research analysts predict that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, August 1st. Ally Financial's dividend payout ratio is currently 77.92%.

Analyst Ratings Changes

ALLY has been the subject of several recent research reports. Bank of America reduced their price target on Ally Financial from $42.00 to $38.00 and set a "buy" rating for the company in a research report on Monday, April 7th. BTIG Research upgraded shares of Ally Financial from a "sell" rating to a "neutral" rating in a research note on Monday, July 14th. Truist Financial increased their price objective on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday. Royal Bank Of Canada reissued an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $47.00 target price (up previously from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $42.80.

Insider Transactions at Ally Financial

In other news, insider Stephanie N. Richard sold 8,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $32.14, for a total value of $257,120.00. Following the completion of the transaction, the insider owned 90,387 shares of the company's stock, valued at approximately $2,905,038.18. This represents a 8.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is currently owned by insiders.

Ally Financial Company 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.