Assenagon Asset Management S.A. Has $670,000 Stake in Ally Financial Inc. (NYSE:ALLY)

Assenagon Asset Management S.A. cut its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 99.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,358 shares of the financial services provider's stock after selling 2,411,770 shares during the period. Assenagon Asset Management S.A.'s holdings in Ally Financial were worth $670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New York State Common Retirement Fund grew its holdings in shares of Ally Financial by 11.6% in the 4th quarter. New York State Common Retirement Fund now owns 189,643 shares of the financial services provider's stock valued at $6,829,000 after buying an additional 19,785 shares during the period. Atria Wealth Solutions Inc. grew its stake in Ally Financial by 12.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 22,215 shares of the financial services provider's stock valued at $800,000 after acquiring an additional 2,400 shares during the period. Van ECK Associates Corp bought a new stake in shares of Ally Financial in the fourth quarter worth about $85,000. Principal Securities Inc. increased its holdings in shares of Ally Financial by 89.4% in the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider's stock worth $38,000 after acquiring an additional 496 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Ally Financial by 49.7% during the fourth quarter. Captrust Financial Advisors now owns 8,910 shares of the financial services provider's stock worth $321,000 after purchasing an additional 2,958 shares during the period. Institutional investors own 88.76% of the company's stock.

Ally Financial Stock Performance

ALLY stock traded up $0.66 during midday trading on Thursday, reaching $36.79. 2,865,140 shares of the company were exchanged, compared to its average volume of 3,771,812. Ally Financial Inc. has a one year low of $29.52 and a one year high of $45.46. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 0.34 and a beta of 1.14. The business has a 50-day moving average price of $34.25 and a two-hundred day moving average price of $35.74. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.90 and a quick ratio of 0.90.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.43 by $0.15. Ally Financial had a net margin of 6.96% and a return on equity of 9.53%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. Equities research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Thursday, May 1st. Ally Financial's dividend payout ratio is presently 88.24%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ALLY shares. The Goldman Sachs Group increased their target price on Ally Financial from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Wall Street Zen raised shares of Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Compass Point upgraded shares of Ally Financial from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $37.00 to $41.00 in a report on Monday, April 7th. Bank of America reduced their target price on shares of Ally Financial from $42.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, BTIG Research downgraded Ally Financial from a "neutral" rating to a "sell" rating and set a $30.00 price target on the stock. in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $41.88.

Insider Activity

In other Ally Financial news, CFO Russell E. Hutchinson acquired 8,200 shares of the company's stock in a transaction on Tuesday, April 22nd. The stock was acquired at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the purchase, the chief financial officer now directly owns 236,421 shares of the company's stock, valued at $7,284,131.01. This trade represents a 3.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie N. Richard sold 8,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total transaction of $257,120.00. Following the completion of the sale, the insider now directly owns 90,387 shares of the company's stock, valued at $2,905,038.18. This represents a 8.13% decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

Ally Financial 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.