Allianz Asset Management GmbH Trims Stake in Ally Financial Inc. (NYSE:ALLY)

Allianz Asset Management GmbH lessened its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 6.5% during the 4th quarter, HoldingsChannel reports. The fund owned 2,106,728 shares of the financial services provider’s stock after selling 147,520 shares during the quarter. Allianz Asset Management GmbH’s holdings in Ally Financial were worth $75,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Janney Montgomery Scott LLC increased its holdings in Ally Financial by 68.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock worth $2,455,000 after acquiring an additional 28,114 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Ally Financial in the fourth quarter worth approximately $1,112,000. CWA Asset Management Group LLC purchased a new stake in shares of Ally Financial in the third quarter worth $1,338,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Ally Financial by 58.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock valued at $1,796,000 after purchasing an additional 18,671 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Ally Financial during the 3rd quarter valued at $21,571,000. Institutional investors own 88.76% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael George Rhodes purchased 25,634 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were purchased at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the completion of the acquisition, the chief executive officer now owns 25,634 shares in the company, valued at approximately $1,002,033.06. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Russell E. Hutchinson acquired 19,100 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were bought at an average price of $39.45 per share, with a total value of $753,495.00. Following the acquisition, the chief financial officer now directly owns 202,845 shares in the company, valued at $8,002,235.25. This represents a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ALLY shares. Truist Financial raised their price target on Ally Financial from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Barclays increased their price objective on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Wells Fargo & Company upped their target price on shares of Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group boosted their price target on shares of Ally Financial from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada raised their price objective on Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.76.

Ally Financial Price Performance

Ally Financial stock opened at $37.51 on Friday. Ally Financial Inc. has a 12-month low of $31.95 and a 12-month high of $45.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The firm has a 50-day moving average price of $37.17 and a 200-day moving average price of $37.37. The firm has a market capitalization of $11.43 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 0.34 and a beta of 1.45.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.21. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.02 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, equities research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.20%. The ex-dividend date was Friday, January 31st. Ally Financial’s dividend payout ratio (DPR) is presently 46.15%.

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.