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

Assenagon Asset Management S.A. trimmed its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 99.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp bought a new stake in shares of Ally Financial in the fourth quarter valued at about $85,000. Principal Securities Inc. raised its holdings in Ally Financial by 89.4% in the 4th quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 496 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Ally Financial by 12.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 22,215 shares of the financial services provider's stock worth $800,000 after acquiring an additional 2,400 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Ally Financial during the 4th quarter worth approximately $43,000. Finally, New York State Common Retirement Fund increased its position in shares of Ally Financial by 11.6% during the fourth 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 purchasing an additional 19,785 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Ally Financial Price Performance

ALLY stock traded up $0.10 during midday trading on Friday, reaching $36.94. 3,158,670 shares of the company's stock traded hands, compared to its average volume of 3,782,123. The company has a 50-day simple moving average of $34.45 and a two-hundred day simple moving average of $35.69. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.38. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $45.46. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 0.35 and a beta of 1.14.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.15. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $2.04 billion. Ally Financial had a return on equity of 9.53% and a net margin of 6.96%. During the same period last year, the company posted $0.45 earnings per share. On average, analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, May 1st. Ally Financial's dividend payout ratio is presently 88.24%.

Analyst Ratings Changes

ALLY has been the subject of several research reports. BTIG Research cut Ally Financial from a "neutral" rating to a "sell" rating and set a $30.00 target price for the company. in a research report on Tuesday, March 25th. Truist Financial raised their price objective on shares of Ally Financial from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Bank of America decreased their target price on shares of Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. The Goldman Sachs Group upped their target price on shares of Ally Financial from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Finally, Wall Street Zen upgraded shares of Ally Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $41.88.

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.