Ally Financial (NYSE:ALLY) Price Target Cut to $58.00 by Analysts at Citigroup

Ally Financial (NYSE:ALLY) had its target price lowered by research analysts at Citigroup from $70.00 to $58.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective suggests a potential upside of 27.44% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Morgan Stanley increased their price target on shares of Ally Financial from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Weiss Ratings cut Ally Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Truist Financial set a $54.00 price target on shares of Ally Financial in a research note on Tuesday, April 21st. Barclays increased their price target on Ally Financial from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Finally, The Goldman Sachs Group boosted their price target on Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.29.

Ally Financial Price Performance

Ally Financial stock traded down $0.06 during mid-day trading on Tuesday, hitting $45.51. 208,269 shares of the company were exchanged, compared to its average volume of 3,623,425. The company has a market capitalization of $13.95 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10. The business has a fifty day moving average of $43.40 and a 200 day moving average of $42.50. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. Ally Financial has a 1-year low of $35.92 and a 1-year high of $47.27.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the firm posted $0.58 EPS. The business’s revenue was up 36.4% on a year-over-year basis. As a group, sell-side analysts expect that Ally Financial will post 5.28 earnings per share for the current year.

Insider Activity

In related news, insider Douglas R. Timmerman sold 39,675 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the transaction, the insider owned 477,627 shares in the company, valued at approximately $21,574,411.59. This represents a 7.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the transaction, the insider directly owned 93,927 shares in the company, valued at approximately $3,958,083.78. This represents a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Ally Financial

A number of institutional investors have recently modified their holdings of the business. SJS Investment Consulting Inc. increased its position in Ally Financial by 30.8% during the first quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 240 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of Ally Financial by 3.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 243 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Ally Financial by 31.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,052 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 252 shares in the last quarter. Sweeney & Michel LLC increased its holdings in shares of Ally Financial by 4.0% during the third quarter. Sweeney & Michel LLC now owns 6,663 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 256 shares during the period. Finally, Triumph Capital Management raised its position in shares of Ally Financial by 9.2% in the fourth quarter. Triumph Capital Management now owns 3,133 shares of the financial services provider’s stock valued at $142,000 after buying an additional 265 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Ally Financial Company 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.