Ally Financial Inc. (NYSE:ALLY) Receives Average Rating of “Hold” from Brokerages

Shares of Ally Financial Inc. (NYSE:ALLY) have received an average rating of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $41.60.

A number of brokerages have recently commented on ALLY. Citigroup reiterated a “buy” rating and issued a $59.00 price target (up from $55.00) on shares of Ally Financial in a research note on Wednesday, July 2nd. Truist Financial boosted their target price on shares of Ally Financial from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, June 13th. JPMorgan Chase & Co. cut their price objective on Ally Financial from $43.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group raised 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. Finally, Wells Fargo & Company dropped their price objective on shares of Ally Financial from $34.00 to $32.00 and set an “underweight” rating on the stock in a report on Monday, April 21st.

Insider Activity at Ally Financial

In other news, insider Stephanie N. Richard sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $32.14, for a total transaction of $257,120.00. Following the completion of the transaction, the insider owned 90,387 shares in the company, valued at $2,905,038.18. This trade represents a 8.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Russell E. Hutchinson bought 8,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was purchased at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the completion of the transaction, the chief financial officer directly owned 236,421 shares of the company’s stock, valued at $7,284,131.01. This represents a 3.59% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

Institutional Trading of Ally Financial

Several hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC bought a new stake in Ally Financial in the fourth quarter worth $2,534,000. State of Michigan Retirement System raised its stake in shares of Ally Financial by 0.8% in the fourth quarter. State of Michigan Retirement System now owns 71,664 shares of the financial services provider’s stock valued at $2,581,000 after acquiring an additional 600 shares during the period. Aigen Investment Management LP lifted its holdings in shares of Ally Financial by 51.3% in the 4th quarter. Aigen Investment Management LP now owns 48,837 shares of the financial services provider’s stock worth $1,759,000 after acquiring an additional 16,569 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Ally Financial by 1.6% during the 4th quarter. Arizona State Retirement System now owns 79,643 shares of the financial services provider’s stock worth $2,868,000 after purchasing an additional 1,262 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Ally Financial during the 4th quarter valued at about $2,337,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Performance

ALLY stock opened at $40.38 on Thursday. The stock’s 50 day simple moving average is $36.36 and its 200 day simple moving average is $35.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.38. Ally Financial has a 12-month low of $29.52 and a 12-month high of $45.46. The stock has a market capitalization of $12.40 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 0.38 and a beta of 1.15.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.15. Ally Financial had a return on equity of 9.53% and a net margin of 6.96%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, research analysts forecast that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Thursday, May 1st. Ally Financial’s dividend payout ratio (DPR) is currently 88.24%.

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.