Allianz Asset Management GmbH Has $54.28 Million Stock Position in Ally Financial Inc. $ALLY

Allianz Asset Management GmbH lowered its stake in Ally Financial Inc. (NYSE:ALLY) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 1,384,580 shares of the financial services provider’s stock after selling 38,965 shares during the period. Allianz Asset Management GmbH’s holdings in Ally Financial were worth $54,276,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in shares of Ally Financial by 385.2% in the second quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock worth $29,000 after buying an additional 597 shares during the period. Mather Group LLC. purchased a new stake in shares of Ally Financial in the 3rd quarter valued at approximately $31,000. Hantz Financial Services Inc. lifted its position in shares of Ally Financial by 662.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 715 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Ally Financial by 116.8% in the 2nd quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 451 shares during the period. Finally, MAI Capital Management grew its position in Ally Financial by 45.1% during the 2nd quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 303 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, CEO Michael George Rhodes acquired 23,800 shares of Ally Financial stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average price of $41.68 per share, with a total value of $991,984.00. Following the purchase, the chief executive officer owned 49,434 shares in the company, valued at approximately $2,060,409.12. This trade represents a 92.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Russell E. Hutchinson bought 11,566 shares of the stock in a transaction on Tuesday, January 27th. The shares were acquired at an average cost of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the transaction, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. The trade was a 5.41% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.67% of the stock is currently owned by insiders.

Ally Financial Stock Up 3.1%

ALLY opened at $43.36 on Thursday. The company has a market capitalization of $13.36 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 0.21 and a beta of 1.19. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $47.27. The business has a 50-day moving average of $43.98 and a 200-day moving average of $41.26.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 earnings per share. Equities research analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 15.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, February 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is currently 51.06%.

Wall Street Analysts Forecast Growth

ALLY has been the subject of a number of research analyst reports. TD Cowen restated a “buy” rating on shares of Ally Financial in a report on Thursday, January 8th. Truist Financial dropped their price target on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Barclays increased their price objective on Ally Financial from $44.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Finally, UBS Group set a $48.00 price target on shares of Ally Financial in a research report on Monday, January 12th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and a consensus price target of $50.44.

Ally Financial Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.