Ally Financial Inc. (NYSE:ALLY) Stock Position Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 2,088.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 728,864 shares of the financial services provider’s stock after purchasing an additional 695,555 shares during the period. Assenagon Asset Management S.A. owned approximately 0.24% of Ally Financial worth $25,940,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after buying an additional 526 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Ally Financial during the 1st quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in Ally Financial during the 2nd quarter valued at $41,000. Hobbs Group Advisors LLC purchased a new stake in shares of Ally Financial in the second quarter valued at $52,000. Finally, First Community Trust NA acquired a new stake in shares of Ally Financial in the second quarter worth $53,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ALLY. Raymond James raised Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Barclays reduced their price target on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, September 12th. TD Cowen lowered their price objective on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Finally, StockNews.com upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial currently has a consensus rating of “Hold” and a consensus target price of $40.38.

Ally Financial Stock Performance

ALLY opened at $34.41 on Friday. The stock has a 50-day moving average of $36.96 and a 200-day moving average of $38.98. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. Ally Financial Inc. has a 52-week low of $23.26 and a 52-week high of $45.46. The company has a market cap of $10.46 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.42 and a beta of 1.39.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that Ally Financial Inc. will post 2.87 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Friday, November 1st. Ally Financial’s dividend payout ratio is 48.98%.

Ally Financial Company 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.