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

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

A number of other brokerages have also recently commented on ALLY. JPMorgan Chase & Co. upped 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. Royal Bank of Canada upped 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. Wells Fargo & Company boosted their price objective on Ally Financial from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Thursday, January 23rd. Citigroup boosted their price objective on Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Morgan Stanley boosted their price objective on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.76.

Ally Financial Stock Performance

Shares of NYSE:ALLY opened at $39.87 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $12.15 billion, a P/E ratio of 15.33, a P/E/G ratio of 0.42 and a beta of 1.44. The business has a 50-day moving average price of $37.27 and a two-hundred day moving average price of $37.85. Ally Financial has a 1-year low of $31.95 and a 1-year high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. Equities analysts predict that Ally Financial will post 3.91 earnings per share for the current year.

Ally Financial Dividend Announcement

The business 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 $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, January 31st. Ally Financial’s payout ratio is presently 46.15%.

Insider Activity

In other Ally Financial news, CFO Russell E. Hutchinson purchased 19,100 shares of the company’s 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 purchase, the chief financial officer now owns 202,845 shares in the company, valued at approximately $8,002,235.25. The trade was a 10.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael George Rhodes purchased 25,634 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was acquired at an average price of $39.09 per share, for a total transaction of $1,002,033.06. Following the purchase, the chief executive officer now owns 25,634 shares in the company, valued at $1,002,033.06. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ally Financial

Large investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its stake in 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 acquiring an additional 577 shares during the period. Principal Securities Inc. increased its position in Ally Financial by 89.4% during the 4th quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock worth $38,000 after buying an additional 496 shares during the period. Allworth Financial LP increased its position in Ally Financial by 41.9% during the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after buying an additional 421 shares during the period. Quarry LP increased its position in Ally Financial by 311.4% during the 2nd quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,143 shares during the period. Finally, UMB Bank n.a. increased its position in Ally Financial by 218.8% during the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock worth $56,000 after buying an additional 1,061 shares during the period. 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.