Assenagon Asset Management S.A. Purchases 1,701,264 Shares of Ally Financial Inc. (NYSE:ALLY)

Assenagon Asset Management S.A. boosted its position in Ally Financial Inc. (NYSE:ALLY) by 233.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,430,128 shares of the financial services provider’s stock after acquiring an additional 1,701,264 shares during the period. Assenagon Asset Management S.A.’s holdings in Ally Financial were worth $87,509,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ALLY. Janney Montgomery Scott LLC grew its position in shares of Ally Financial by 68.8% in the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock valued at $2,455,000 after purchasing an additional 28,114 shares in the last quarter. Oak Thistle LLC bought a new position in Ally Financial in the 4th quarter worth about $1,112,000. CWA Asset Management Group LLC purchased a new position in Ally Financial during the 3rd quarter valued at about $1,338,000. Wealth Enhancement Advisory Services LLC grew its holdings in 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 buying an additional 18,671 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Ally Financial during the third quarter valued at about $21,571,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Stock Performance

NYSE:ALLY opened at $37.09 on Thursday. The company has a market capitalization of $11.30 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.46 and a beta of 1.44. The business has a 50 day moving average of $36.89 and a 200 day moving average of $38.02. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a 1-year low of $31.77 and a 1-year high of $45.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $0.83 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts predict that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ALLY shares. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research note on Monday, October 21st. TD Cowen reduced their price target on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Morgan Stanley increased their price objective on Ally Financial from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Citigroup lifted their price objective on Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $40.00 target price on shares of Ally Financial in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.53.

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.