Jennison Associates LLC Has $38.82 Million Holdings in Ally Financial Inc. (NYSE:ALLY)

Jennison Associates LLC lessened its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 32.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,064,504 shares of the financial services provider's stock after selling 521,961 shares during the quarter. Jennison Associates LLC owned about 0.35% of Ally Financial worth $38,822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Copia Wealth Management purchased a new position in Ally Financial during the 1st quarter worth $27,000. Private Trust Co. NA grew its stake in shares of Ally Financial by 125.7% during the 1st quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock worth $33,000 after purchasing an additional 509 shares during the period. Bessemer Group Inc. grew its stake in shares of Ally Financial by 59.6% during the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock worth $37,000 after purchasing an additional 377 shares during the period. Harbour Investments Inc. grew its stake in shares of Ally Financial by 38.5% during the 4th quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider's stock worth $77,000 after purchasing an additional 595 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Ally Financial during the 4th quarter worth $78,000. Hedge funds and other institutional investors own 88.76% of the company's stock.

Ally Financial Stock Down 0.9%

Shares of ALLY stock traded down $0.36 during mid-day trading on Friday, reaching $39.88. 5,849,873 shares of the company were exchanged, compared to its average volume of 3,773,986. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $45.46. The business's 50 day simple moving average is $37.33 and its 200 day simple moving average is $36.12. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $12.25 billion, a P/E ratio of 25.90, a P/E/G ratio of 0.38 and a beta of 1.15.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.21. Ally Financial had a net margin of 6.96% and a return on equity of 9.53%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. Ally Financial's quarterly revenue was up 3.0% on a year-over-year basis. Research analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, August 1st. Ally Financial's dividend payout ratio is currently 77.92%.

Insider Transactions at Ally Financial

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 shares were sold at an average price of $32.14, for a total value of $257,120.00. Following the sale, the insider directly owned 90,387 shares in the company, valued at approximately $2,905,038.18. The trade was a 8.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Russell E. Hutchinson purchased 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 completion of the transaction, the chief financial officer owned 236,421 shares of the company's stock, valued at $7,284,131.01. This represents a 3.59% increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ALLY shares. Morgan Stanley reaffirmed an "overweight" rating and set a $47.00 price target (up from $39.00) on shares of Ally Financial in a research note on Thursday, July 10th. Wells Fargo & Company decreased their price target on shares of Ally Financial from $34.00 to $32.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. Bank of America decreased their price target on shares of Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Truist Financial increased 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. Finally, The Goldman Sachs Group raised their price target on shares of Ally Financial from $45.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ally Financial presently has an average rating of "Hold" and an average price target of $42.67.

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.