Ally Financial (NYSE:ALLY) Price Target Raised to $55.00

by · The Cerbat Gem

Ally Financial (NYSE:ALLYFree Report) had its target price raised by Morgan Stanley from $53.00 to $55.00 in a report released on Monday, MarketBeat.com reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on ALLY. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Ally Financial from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. UBS Group set a $48.00 price objective on shares of Ally Financial in a research note on Monday, January 12th. Evercore dropped their price objective on shares of Ally Financial from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $52.00 price target on shares of Ally Financial in a research report on Monday, January 12th. Finally, Weiss Ratings downgraded Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and an average target price of $54.14.

Check Out Our Latest Stock Analysis on Ally Financial

Ally Financial Stock Performance

Shares of ALLY stock opened at $45.68 on Monday. The stock has a fifty day moving average price of $40.26 and a 200 day moving average price of $41.43. The stock has a market cap of $14.07 billion, a PE ratio of 11.14, a P/E/G ratio of 0.28 and a beta of 1.14. Ally Financial has a 1 year low of $31.45 and a 1 year high of $47.27. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.93.

Ally Financial (NYSE:ALLYGet Free Report) last posted its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.18. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. Sell-side analysts forecast that Ally Financial will post 5.29 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.20 annualized dividend and a yield of 2.6%. Ally Financial’s dividend payout ratio (DPR) is presently 29.27%.

Insiders Place Their Bets

In related news, CFO Russell E. Hutchinson purchased 11,566 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was bought at an average price of $43.17 per share, with a total value of $499,304.22. Following the completion of the transaction, the chief financial officer owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. This represents a 5.41% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael George Rhodes purchased 23,800 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were bought at an average cost of $41.68 per share, with a total value of $991,984.00. Following the transaction, the chief executive officer directly owned 49,434 shares of the company’s stock, valued at $2,060,409.12. This represents a 92.85% increase in their position. Additional details regarding this purchase 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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC grew its position in shares of Ally Financial by 3.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 243 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Ally Financial by 31.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,052 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 252 shares during the period. Sweeney & Michel LLC grew its position in shares of Ally Financial by 4.0% in the third quarter. Sweeney & Michel LLC now owns 6,663 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 256 shares during the period. Triumph Capital Management grew 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 purchasing an additional 265 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Ally Financial by 25.0% in the fourth quarter. Larson Financial Group LLC now owns 1,340 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 268 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Company Profile

(Get Free Report)

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.

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