Assenagon Asset Management S.A. Grows Stock Position in Ally Financial Inc. $ALLY

Key Points

• Assenagon Asset Management dramatically increased its stake in Ally Financial, boosting holdings by 5,026.4% to 509,975 shares valued at about $20.0 million.
• Several analysts turned more positive on ALLY, with Wells Fargo, Goldman Sachs, and Morgan Stanley all raising price targets; the stock now has a consensus Moderate Buy rating and a $53.50 target price.
• Ally Financial reported strong quarterly results, posting $1.11 EPS versus $0.93 expected and revenue of $2.18 billion, while also paying a quarterly dividend of $0.30 per share.

Assenagon Asset Management S.A. raised its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 5,026.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 509,975 shares of the financial services provider's stock after purchasing an additional 500,027 shares during the quarter. Assenagon Asset Management S.A. owned about 0.17% of Ally Financial worth $20,006,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ALLY. Mirae Asset Global Investments Co. Ltd. purchased a new position in Ally Financial during the 4th quarter worth approximately $29,000. Fideuram Asset Management Ireland dac acquired a new stake in Ally Financial during the fourth quarter valued at $35,000. Safe Harbor Fiduciary LLC acquired a new stake in Ally Financial in the fourth quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Ally Financial during the 4th quarter worth about $38,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Ally Financial by 43.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 904 shares of the financial services provider's stock worth $41,000 after acquiring an additional 276 shares during the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALLY. Wells Fargo & Company increased their target price on shares of Ally Financial from $52.00 to $55.00 and gave the company an "overweight" rating in a research report on Friday. The Goldman Sachs Group increased their price target on Ally Financial from $50.00 to $56.00 and gave the company a "buy" rating in a report on Monday, April 20th. Morgan Stanley upped their target price on Ally Financial from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, April 20th. JPMorgan Chase & Co. reduced their target price on shares of Ally Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Finally, Weiss Ratings raised Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.50.

Insider Activity

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the transaction, the insider owned 93,927 shares in the company, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas R. Timmerman sold 39,675 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the transaction, the insider directly owned 477,627 shares of the company's stock, valued at approximately $21,574,411.59. This trade represents a 7.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.46% of the stock is owned by company insiders.

Ally Financial Trading Up 1.9%

NYSE ALLY opened at $47.21 on Friday. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10. The firm's fifty day moving average price is $43.73 and its 200 day moving average price is $42.60.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.93 by $0.18. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. Ally Financial's revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. On average, sell-side analysts expect that Ally Financial Inc. will post 5.26 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.30 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.5%. Ally Financial's dividend payout ratio (DPR) is 29.27%.

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.

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