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

Ally Financial (NYSE:ALLY) had its price objective cut by Truist Financial from $47.00 to $45.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

ALLY has been the topic of several other reports. StockNews.com downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Wolfe Research cut Ally Financial from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 5th. The Goldman Sachs Group upped their price target on Ally Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company boosted 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. Finally, Morgan Stanley upped their target price on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Ally Financial has a consensus rating of “Hold” and a consensus target price of $42.53.

Ally Financial Trading Down 2.6 %

ALLY stock opened at $32.16 on Friday. The business’s 50-day moving average is $36.72 and its 200 day moving average is $36.40. Ally Financial has a 12-month low of $30.06 and a 12-month high of $45.46. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.32 and a beta of 1.12. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.57 by $0.21. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. On average, sell-side analysts anticipate that Ally Financial will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.30 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.73%. Ally Financial’s dividend payout ratio is presently 46.15%.

Insider Buying and Selling

In other Ally Financial news, CFO Russell E. Hutchinson bought 19,100 shares of Ally Financial stock in a transaction on Friday, January 24th. The shares were bought at an average cost of $39.45 per share, for a total transaction of $753,495.00. Following the acquisition, the chief financial officer now directly owns 202,845 shares in the company, valued at $8,002,235.25. This represents a 10.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael George Rhodes purchased 25,634 shares of the company’s stock in a transaction on Monday, January 27th. The stock was acquired at an average price of $39.09 per share, with a total value of $1,002,033.06. Following the purchase, the chief executive officer now owns 25,634 shares of the company’s stock, 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 corporate insiders.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds have recently bought and sold shares of ALLY. Cerity Partners LLC increased its position in shares of Ally Financial by 8.4% in the 3rd quarter. Cerity Partners LLC now owns 16,488 shares of the financial services provider’s stock valued at $587,000 after purchasing an additional 1,273 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Ally Financial by 29.9% in the third quarter. Rockefeller Capital Management L.P. now owns 53,079 shares of the financial services provider’s stock valued at $1,889,000 after buying an additional 12,229 shares during the last quarter. Verition Fund Management LLC raised its stake in Ally Financial by 71.4% in the third quarter. Verition Fund Management LLC now owns 25,944 shares of the financial services provider’s stock valued at $923,000 after buying an additional 10,809 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ally Financial during the 3rd quarter worth about $124,000. Finally, Centiva Capital LP acquired a new position in shares of Ally Financial during the 3rd quarter worth about $388,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

About Ally Financial

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.