Ally Financial Inc. (NYSE:ALLY) Receives $54.14 Consensus PT from Brokerages

Shares of Ally Financial Inc. (NYSE:ALLY) have earned an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $53.2857.

ALLY has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. The Goldman Sachs Group raised their price target on Ally Financial from $50.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 20th. Barclays raised their price objective on shares of Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Truist Financial set a $54.00 price objective on shares of Ally Financial in a research report on Tuesday, April 21st. Finally, Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday.

Ally Financial Stock Up 0.8%

NYSE ALLY opened at $45.59 on Thursday. The stock’s 50 day simple moving average is $43.56 and its 200 day simple moving average is $42.54. Ally Financial has a one year low of $35.92 and a one year high of $47.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $13.97 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 0.27 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.14 billion. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The firm’s quarterly revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 EPS. As a group, sell-side analysts forecast that Ally Financial will post 5.28 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, May 1st. Ally Financial’s payout ratio is presently 29.27%.

Insider Buying and Selling at Ally Financial

In related news, insider Douglas R. Timmerman sold 39,675 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the sale, the insider owned 477,627 shares of the company’s stock, valued at $21,574,411.59. The trade was a 7.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephanie N. Richard sold 5,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the transaction, the insider owned 93,927 shares in the company, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Ally Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Ally Financial during the 4th quarter valued at approximately $157,610,000. Wellington Management Group LLP boosted its holdings in Ally Financial by 19.5% in the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock valued at $646,347,000 after purchasing an additional 2,332,610 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Ally Financial by 8,255.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock valued at $48,231,000 after purchasing an additional 1,215,659 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new position in Ally Financial in the 3rd quarter valued at $45,733,000. Finally, Bank of America Corp DE boosted its holdings in Ally Financial by 38.9% in the 2nd quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock valued at $146,888,000 after purchasing an additional 1,056,060 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

About Ally Financial

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.