Ally Financial (NYSE:ALLY) Stock Gets Price Target Trim from Royal Bank Of Canada

Ally Financial (NYSE:ALLY) had its price objective reduced by Royal Bank Of Canada from $55.00 to $50.00 in a report issued on Friday morning, Marketbeat Ratings reports. Royal Bank Of Canada currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on ALLY. TD Cowen lowered their price target on Ally Financial from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Bank of America raised their price objective on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Citigroup decreased their price objective on shares of Ally Financial from $58.00 to $50.00 and set a “buy” rating for the company in a report on Friday, September 25th. Truist Financial decreased their price objective on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Finally, Wells Fargo & Company lowered shares of Ally Financial from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $55.00 to $42.00 in a research note on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Ally Financial has an average rating of “Moderate Buy” and a consensus target price of $51.07.

Ally Financial Price Performance

Shares of Ally Financial stock opened at $37.59 on Friday. The business has a 50-day moving average price of $41.49 and a 200 day moving average price of $42.75. Ally Financial has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The firm has a market cap of $11.43 billion, a P/E ratio of 8.87, a P/E/G ratio of 0.23 and a beta of 1.11. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. On average, sell-side analysts forecast that Ally Financial will post 5.05 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, July 31st. Ally Financial’s payout ratio is presently 28.30%.

Insider Activity at Ally Financial

In other news, insider Stephanie Richard sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the transaction, the insider directly owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Ally Financial

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Ally Financial in the 2nd quarter valued at about $1,315,659,000. Berkshire Hathaway Inc bought a new position in Ally Financial in the 2nd quarter worth about $1,240,650,000. Dimensional Fund Advisors LP grew its position in Ally Financial by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider’s stock worth $353,776,000 after purchasing an additional 309,638 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Ally Financial by 11.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider’s stock valued at $266,134,000 after purchasing an additional 712,443 shares during the period. Finally, Donald Smith & CO. Inc. acquired a new stake in shares of Ally Financial in the second quarter valued at approximately $172,509,000. Institutional investors own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc (NYSE:ALLY) is a digital financial-services company headquartered in Detroit, Michigan. Its principal businesses include automotive financing, consumer banking, commercial finance and other lending services, primarily serving customers and businesses in the United States.

Through Ally Auto, the company provides retail installment loans and leases for new and used vehicles, along with financing and related services for automotive dealers. Ally Bank offers online checking and savings accounts, money market accounts, certificates of deposit and other deposit products.