Ally Financial Inc. (NYSE:ALLY) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,586,465 shares of the financial services provider's stock after selling 86,347 shares during the quarter. Jennison Associates LLC owned 0.52% of Ally Financial worth $57,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in shares of Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 577 shares in the last quarter. Allworth Financial LP increased its holdings in Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider's stock valued at $51,000 after buying an additional 421 shares during the last quarter. UMB Bank n.a. raised its stake in Ally Financial by 218.8% in the fourth quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider's stock valued at $56,000 after buying an additional 1,061 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Ally Financial during the 3rd quarter worth about $63,000. Finally, Rakuten Securities Inc. boosted its position in shares of Ally Financial by 65,375.0% during the 3rd quarter. Rakuten Securities Inc. now owns 2,619 shares of the financial services provider's stock worth $93,000 after acquiring an additional 2,615 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Stock Performance

Shares of NYSE:ALLY traded up $0.04 during midday trading on Friday, hitting $38.29. The stock had a trading volume of 2,602,113 shares, compared to its average volume of 3,839,243. Ally Financial Inc. has a 1 year low of $31.95 and a 1 year 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 stock has a 50 day moving average price of $37.25 and a two-hundred day moving average price of $37.70. The company has a market capitalization of $11.67 billion, a PE ratio of 14.73, a P/E/G ratio of 0.43 and a beta of 1.45.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.21. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.02 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 EPS. As a group, equities analysts predict that Ally Financial Inc. will post 3.7 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Friday, January 31st. Ally Financial's dividend payout ratio (DPR) is currently 46.15%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALLY. The Goldman Sachs Group boosted their target price on Ally Financial from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Ally Financial from $40.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Royal Bank of Canada increased their target price on shares of Ally Financial from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Truist Financial boosted their price target on shares of Ally Financial from $42.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Finally, Barclays raised their price objective on Ally Financial from $36.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Ally Financial has an average rating of "Hold" and a consensus price target of $43.76.

Insiders Place Their Bets

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

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.