Ally Financial (NYSE:ALLY) Given New $47.00 Price Target at Truist Financial

Ally Financial (NYSE:ALLY) had its price objective increased by Truist Financial from $42.00 to $47.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Ally Financial from $42.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Barclays lifted their target price on Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their price objective on Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Thursday, January 23rd. Citigroup increased their target price 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, Keefe, Bruyette & Woods boosted their price target on shares of Ally Financial from $44.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.76.

Ally Financial Price Performance

Shares of Ally Financial stock opened at $39.14 on Tuesday. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 0.42 and a beta of 1.44. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.51. The stock’s 50-day simple moving average is $37.13 and its 200-day simple moving average is $37.87. Ally Financial has a 52 week low of $31.95 and a 52 week high of $45.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.21. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.02 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. As a group, analysts expect that Ally Financial will post 3.91 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Friday, January 31st. Ally Financial’s dividend payout ratio is currently 46.15%.

Insider Activity at Ally Financial

In related news, CFO Russell E. Hutchinson bought 19,100 shares of the stock in a transaction dated Friday, January 24th. The stock was purchased at an average cost of $39.45 per share, with a total value of $753,495.00. Following the completion of the purchase, the chief financial officer now owns 202,845 shares of the company’s stock, valued at $8,002,235.25. This trade represents a 10.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALLY. Janney Montgomery Scott LLC increased its position in shares of Ally Financial by 68.8% during the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock worth $2,455,000 after acquiring an additional 28,114 shares during the period. Oak Thistle LLC purchased a new position in Ally Financial during the 4th quarter worth $1,112,000. CWA Asset Management Group LLC purchased a new stake in shares of Ally Financial in the 3rd quarter worth $1,338,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Ally Financial by 58.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock worth $1,796,000 after buying an additional 18,671 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Ally Financial during the third quarter valued at $21,571,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Company Profile

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.