Truist Financial Cuts Ally Financial (NYSE:ALLY) Price Target to $45.00

Ally Financial (NYSE:ALLY) had its target price lowered by Truist Financial from $47.00 to $45.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. The Goldman Sachs Group upped their target price on Ally Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Barclays raised their price objective on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Jefferies Financial Group boosted their target price on shares of Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Royal Bank of Canada raised their price target on shares of Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.53.

Ally Financial Stock Performance

ALLY stock opened at $32.16 on Friday. The stock has a market cap of $9.88 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.32 and a beta of 1.12. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50 day simple moving average of $36.72 and a 200 day simple moving average of $36.44. Ally Financial has a 52 week low of $30.06 and a 52 week high of $45.46.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the business posted $0.45 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts anticipate that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Friday, January 31st. Ally Financial’s dividend payout ratio is currently 46.15%.

Insider Activity

In other news, CFO Russell E. Hutchinson purchased 19,100 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average cost of $39.45 per share, for a total transaction of $753,495.00. Following the completion of the purchase, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at approximately $8,002,235.25. The trade was a 10.39 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rhodes purchased 25,634 shares of the business’s stock in a transaction on Monday, January 27th. The stock was purchased at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the acquisition, the chief executive officer now owns 25,634 shares in the company, valued at approximately $1,002,033.06. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

Institutional Trading of Ally Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Principal Securities Inc. lifted its position in Ally Financial by 89.4% in the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 496 shares during the period. Kestra Investment Management LLC bought a new position in shares of Ally Financial during the 4th quarter worth about $43,000. UMB Bank n.a. boosted its position in shares of 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 valued at $56,000 after acquiring an additional 1,061 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Ally Financial by 38.5% during the 4th quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 595 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Ally Financial in the fourth quarter valued at about $78,000. 88.76% of the stock is currently owned by institutional investors.

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.