Ally Financial (NYSE:ALLY) Price Target Raised to $47.00

Ally Financial (NYSE:ALLY) had its price target lifted by Truist Financial from $42.00 to $47.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

ALLY has been the topic of a number of other reports. Royal Bank of Canada lifted their price target on Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Barclays lifted their price target on Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their price target on Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their price target on Ally Financial from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Thursday, January 23rd. Finally, Citigroup raised their price objective on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.76.

Ally Financial Stock Up 2.5 %

Shares of NYSE ALLY opened at $39.87 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.92 and a current ratio of 0.93. Ally Financial has a 52 week low of $31.95 and a 52 week high of $45.46. The stock has a market capitalization of $12.15 billion, a P/E ratio of 15.33, a PEG ratio of 0.42 and a beta of 1.44. The stock’s fifty day moving average is $37.27 and its 200 day moving average is $37.85.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.21. The business 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%. Ally Financial’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. Sell-side analysts forecast that Ally Financial will post 3.91 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.01%. Ally Financial’s dividend payout ratio is 46.15%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC boosted its position in shares of Ally Financial by 153.9% during the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after buying an additional 577 shares during the last quarter. Principal Securities Inc. boosted its position in Ally Financial by 89.4% in the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 496 shares during the last quarter. Allworth Financial LP boosted its position 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 worth $51,000 after purchasing an additional 421 shares during the last quarter. Quarry LP boosted its position in Ally Financial by 311.4% in the second quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,143 shares during the last quarter. Finally, UMB Bank n.a. boosted its position 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 worth $56,000 after purchasing an additional 1,061 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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.