Allianz Asset Management GmbH Lowers Position in Ally Financial Inc. $ALLY

Allianz Asset Management GmbH trimmed its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,423,545 shares of the financial services provider’s stock after selling 191,486 shares during the quarter. Allianz Asset Management GmbH’s holdings in Ally Financial were worth $55,447,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ALLY. Wellington Management Group LLP acquired a new position in shares of Ally Financial during the 1st quarter worth approximately $253,881,000. Millennium Management LLC raised its stake in shares of Ally Financial by 234.7% during the 1st quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider’s stock worth $136,838,000 after buying an additional 2,630,981 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Ally Financial by 6,675.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,243,773 shares of the financial services provider’s stock worth $48,445,000 after buying an additional 1,225,415 shares during the period. AQR Capital Management LLC raised its stake in shares of Ally Financial by 173.2% during the 1st quarter. AQR Capital Management LLC now owns 1,377,717 shares of the financial services provider’s stock worth $49,984,000 after buying an additional 873,380 shares during the period. Finally, Amundi raised its stake in shares of Ally Financial by 53.9% during the 1st quarter. Amundi now owns 1,778,604 shares of the financial services provider’s stock worth $64,866,000 after buying an additional 622,601 shares during the period. 88.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ally Financial in a research note on Monday, July 14th. Morgan Stanley upped their target price on Ally Financial from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Keefe, Bruyette & Woods decreased their price objective on Ally Financial from $56.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Truist Financial raised their price objective on Ally Financial from $44.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ally Financial in a report on Tuesday. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.14.

Ally Financial Trading Up 3.4%

Shares of ALLY stock opened at $39.77 on Friday. The stock’s fifty day moving average is $40.40 and its two-hundred day moving average is $37.47. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $12.24 billion, a P/E ratio of 25.83, a PEG ratio of 0.29 and a beta of 1.18. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $44.83.

Ally Financial (NYSE:ALLY) last issued its earnings results on Monday, July 28th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The business had revenue of $2.06 billion during the quarter. Research analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. Ally Financial’s dividend payout ratio (DPR) is 77.92%.

About Ally Financial

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.