Royal Bank Of Canada Issues Positive Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its price objective hoisted by Royal Bank Of Canada from $52.00 to $55.00 in a research note released on Friday morning, MarketBeat.com reports. Royal Bank Of Canada currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on ALLY. Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Wall Street Zen cut Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Bank of America lifted their target price on shares of Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company upped their price target on shares of Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, Citigroup lowered their price target on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.79.

Ally Financial Price Performance

ALLY stock traded up $0.49 on Friday, reaching $45.60. 2,008,110 shares of the company’s stock were exchanged, compared to its average volume of 2,734,026. The stock has a fifty day moving average of $43.92 and a 200-day moving average of $42.68. The firm has a market cap of $13.98 billion, a PE ratio of 11.12, a P/E/G ratio of 0.26 and a beta of 1.09. 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 twelve month low of $35.92 and a twelve month high of $47.29.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.14 billion. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.Ally Financial’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. As a group, equities analysts predict that Ally Financial will post 5.33 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, May 1st. Ally Financial’s dividend payout ratio (DPR) is currently 29.27%.

Insider Activity

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the firm’s 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 sale, the insider directly owned 93,927 shares of the company’s stock, valued at $3,958,083.78. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the sale, the insider owned 477,627 shares of the company’s stock, valued at approximately $21,574,411.59. This trade represents a 7.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Ally Financial

Several institutional investors and hedge funds have recently modified their holdings of the company. Prana Capital Management LP lifted its stake in shares of Ally Financial by 177.3% during the 3rd quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider’s stock worth $7,007,000 after purchasing an additional 114,305 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Ally Financial in the fourth quarter valued at $3,926,000. Danica Pension Livsforsikringsaktieselskab acquired a new position in Ally Financial in the third quarter valued at $45,733,000. Daytona Street Capital LLC acquired a new position in Ally Financial in the fourth quarter valued at $3,381,000. Finally, Algert Global LLC lifted its position in Ally Financial by 62.0% during the third quarter. Algert Global LLC now owns 461,846 shares of the financial services provider’s stock worth $18,104,000 after buying an additional 176,720 shares during the period. Hedge funds and other 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.