Ally Financial (NYSE:ALLY) Hits New 12-Month High – What’s Next?

Ally Financial Inc. (NYSE:ALLY)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $47.28 and last traded at $46.7950, with a volume of 596 shares changing hands. The stock had previously closed at $47.17.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALLY. Morgan Stanley increased their price target on Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. The Goldman Sachs Group raised their target price on Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Wall Street Zen cut Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Evercore reissued an “outperform” rating and issued a $54.00 price target on shares of Ally Financial in a report on Tuesday, April 21st. Finally, Weiss Ratings raised shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Ally Financial has an average rating of “Moderate Buy” and an average target price of $53.50.

Ally Financial Trading Down 0.8%

The company’s 50-day moving average price is $43.73 and its 200-day moving average price is $42.60. The firm has a market cap of $14.35 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 0.29 and a beta of 1.10. 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 (NYSE:ALLY) last announced its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.14 billion. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 earnings per share. Equities analysts expect that Ally Financial Inc. will post 5.26 EPS for the current fiscal year.

Ally Financial Dividend Announcement

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

Insider Buying and Selling at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the sale, the insider 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 available at this link. Also, insider Douglas R. Timmerman sold 39,675 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $45.17, for a total value of $1,792,119.75. Following the transaction, the insider directly owned 477,627 shares of the company’s stock, valued at approximately $21,574,411.59. This represents a 7.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ally Financial

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Ally Financial during the fourth quarter worth approximately $29,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Ally Financial during the 4th quarter worth approximately $35,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Ally Financial in the 4th quarter valued at $37,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Ally Financial in the 4th quarter valued at $38,000. Finally, SJS Investment Consulting Inc. grew its position in shares of Ally Financial by 30.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock valued at $40,000 after buying an additional 240 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 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.