Assenagon Asset Management S.A. Purchases 385,311 Shares of Ally Financial Inc. $ALLY

Assenagon Asset Management S.A. grew its holdings in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 75.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 895,286 shares of the financial services provider's stock after buying an additional 385,311 shares during the period. Assenagon Asset Management S.A. owned 0.29% of Ally Financial worth $41,138,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ALLY. Royal Bank of Canada increased its position in Ally Financial by 106.5% during the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider's stock valued at $9,158,000 after buying an additional 129,497 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Ally Financial by 22.8% in the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider's stock worth $82,000 after purchasing an additional 415 shares in the last quarter. Empowered Funds LLC grew its position in Ally Financial by 11.1% during the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider's stock valued at $470,000 after purchasing an additional 1,292 shares during the last quarter. Focus Partners Wealth bought a new stake in Ally Financial during the 1st quarter valued at about $259,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Ally Financial by 374.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider's stock worth $58,000 after buying an additional 1,166 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Trading Down 0.8%

NYSE:ALLY opened at $43.70 on Friday. The company has a market cap of $13.29 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a 50 day simple moving average of $44.59 and a two-hundred day simple moving average of $42.54. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.01). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. Ally Financial's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. Research analysts forecast that Ally Financial Inc. will post 5.19 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. Ally Financial's dividend payout ratio is currently 28.30%.

Insiders Place Their Bets

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following the transaction, the insider directly owned 88,927 shares of the company's stock, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Ally Financial from $52.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. The Goldman Sachs Group upped their price objective on Ally Financial from $50.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Royal Bank Of Canada increased their target price on Ally Financial from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, July 10th. Truist Financial reduced their target price on Ally Financial from $54.00 to $51.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Finally, Evercore reaffirmed an "outperform" rating and set a $54.00 price target on shares of Ally Financial in a report on Tuesday, April 21st. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Ally Financial presently has an average rating of "Moderate Buy" and a consensus price target of $53.64.

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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