Shares of Ally Financial Inc (NYSE:ALLY) have earned a consensus recommendation of “Buy” from the fifteen research firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $33.36.
A number of research firms recently weighed in on ALLY. Morgan Stanley lowered Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 22nd. Oppenheimer set a $119.00 price objective on American Express and gave the company a “buy” rating in a research report on Wednesday, April 17th. Citigroup set a $95.00 price objective on iRobot and gave the company a “hold” rating in a research report on Wednesday, July 3rd. BMO Capital Markets set a $44.00 target price on Schlumberger and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.
ALLY stock traded up $1.84 on Friday, reaching $33.29. 374,270 shares of the company traded hands, compared to its average volume of 3,675,313. Ally Financial has a one year low of $20.60 and a one year high of $32.35. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $13.11 billion, a P/E ratio of 9.95, a P/E/G ratio of 0.63 and a beta of 1.31. The firm’s fifty day simple moving average is $30.35.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, July 31st. Ally Financial’s payout ratio is 20.36%.
Ally Financial announced that its board has approved a share buyback program on Monday, April 1st that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the financial services provider to buy up to 10.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In related news, CAO David J. Debrunner sold 2,222 shares of Ally Financial stock in a transaction on Monday, July 1st. The stock was sold at an average price of $31.32, for a total value of $69,593.04. Following the completion of the sale, the chief accounting officer now owns 105,757 shares of the company’s stock, valued at $3,312,309.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mayree C. Clark acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $29.71 per share, with a total value of $148,550.00. Following the acquisition, the director now directly owns 46,248 shares of the company’s stock, valued at $1,374,028.08. The disclosure for this purchase can be found here. In the last three months, insiders sold 6,666 shares of company stock valued at $199,802. Corporate insiders own 0.35% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. First Hawaiian Bank grew its holdings in shares of Ally Financial by 2.8% in the second quarter. First Hawaiian Bank now owns 22,398 shares of the financial services provider’s stock worth $694,000 after acquiring an additional 618 shares during the period. Standard Life Aberdeen plc lifted its position in Ally Financial by 0.5% during the fourth quarter. Standard Life Aberdeen plc now owns 148,501 shares of the financial services provider’s stock valued at $3,321,000 after purchasing an additional 684 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in Ally Financial by 2.1% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 38,692 shares of the financial services provider’s stock valued at $1,064,000 after purchasing an additional 809 shares in the last quarter. Raymond James Trust N.A. lifted its position in Ally Financial by 14.4% during the second quarter. Raymond James Trust N.A. now owns 8,723 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 1,097 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Ally Financial during the first quarter valued at $31,000. 97.04% of the stock is owned by institutional investors.
About Ally Financial
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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