Assenagon Asset Management S.A. Has $48.45 Million Holdings in Ally Financial Inc. $ALLY

Key Points

• Assenagon Asset Management S.A. significantly increased its stake in Ally Financial by 6,675.1% in the second quarter, now owning over 1.24 million shares valued at approximately $48.4 million.
• Ally Financial reported earnings of $0.99 per share for the last quarter, surpassing expectations, with revenues totaling $2.08 billion.
• The company's quarterly dividend was recently paid at $0.30 per share, resulting in an annualized yield of 2.7% and a payout ratio of approximately 77.92%.

Assenagon Asset Management S.A. boosted its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 6,675.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,243,773 shares of the financial services provider's stock after purchasing an additional 1,225,415 shares during the quarter. Assenagon Asset Management S.A. owned about 0.40% of Ally Financial worth $48,445,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Fulton Bank N.A. grew its stake in Ally Financial by 1.3% during the second quarter. Fulton Bank N.A. now owns 19,888 shares of the financial services provider's stock valued at $775,000 after acquiring an additional 260 shares in the last quarter. Davis Investment Partners LLC bought a new stake in Ally Financial during the 2nd quarter valued at $243,000. Strs Ohio purchased a new position in Ally Financial during the 1st quarter valued at $1,377,000. Geneos Wealth Management Inc. grew its position in Ally Financial by 148.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,368 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in Ally Financial during the 1st quarter valued at about $259,000. Institutional investors own 88.76% of the company's stock.

Ally Financial Price Performance

ALLY stock traded down $0.77 during trading hours on Tuesday, hitting $42.71. 1,950,778 shares of the stock traded hands, compared to its average volume of 3,781,873. The stock has a 50-day simple moving average of $39.94 and a 200 day simple moving average of $36.97. Ally Financial Inc. has a one year low of $29.52 and a one year high of $44.83. The company has a market cap of $13.15 billion, a P/E ratio of 27.73, a P/E/G ratio of 0.34 and a beta of 1.13. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30.

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

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $0.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial's payout ratio is presently 77.92%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALLY. Morgan Stanley reissued an "overweight" rating and issued a $47.00 target price (up from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. Evercore ISI boosted their price target on Ally Financial from $42.00 to $45.00 and gave the company an "in-line" rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Ally Financial from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Truist Financial increased their price target on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ally Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.43.

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.