Ally Financial (NYSE:ALLY) Price Target Cut to $50.00 by Analysts at Wells Fargo & Company

Ally Financial (NYSE:ALLY – Get Rating) had its price objective cut by equities researchers at Wells Fargo & Company from $57.00 to $50.00 in a note issued to investors on Monday, The Fly reports. Wells Fargo & Company‘s price target suggests a potential upside of 21.30% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Raymond James decreased their target price on shares of Ally Financial from $57.00 to $50.00 in a research note on Monday. Piper Sandler decreased their target price on shares of Ally Financial from $54.00 to $47.00 in a research note on Monday. StockNews.com assumed coverage on shares of Ally Financial in a research note on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. cut shares of Ally Financial from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $65.00 to $56.00 in a research report on Wednesday, January 19th. Finally, Morgan Stanley reduced their price objective on shares of Ally Financial from $73.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, March 28th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $59.92.

Shares of NYSE ALLY opened at $41.22 on Monday. The firm’s 50-day moving average price is $45.27 and its 200-day moving average price is $47.96. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.16. The company has a market cap of $13.66 billion, a PE ratio of 5.18, a PEG ratio of 0.17 and a beta of 1.36. Ally Financial has a 52-week low of $39.85 and a 52-week high of $56.61.

Ally Financial (NYSE:ALLY – Get Rating) last announced its quarterly earnings results on Thursday, April 14th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.10. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.13 billion. Ally Financial had a net margin of 34.73% and a return on equity of 20.89%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.09 EPS. As a group, equities research analysts anticipate that Ally Financial will post 7.72 EPS for the current fiscal year.

In other Ally Financial news, insider Jason E. Schugel sold 2,500 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $49.21, for a total value of $123,025.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas R. Timmerman sold 2,916 shares of the company’s stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $47.78, for a total value of $139,326.48. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blair William & Co. IL increased its position in Ally Financial by 2.1% during the fourth quarter. Blair William & Co. IL now owns 10,233 shares of the financial services provider’s stock worth $487,000 after buying an additional 206 shares during the period. Corient Capital Partners LLC increased its position in Ally Financial by 4.5% during the third quarter. Corient Capital Partners LLC now owns 5,070 shares of the financial services provider’s stock worth $259,000 after buying an additional 218 shares during the period. Sara Bay Financial increased its position in Ally Financial by 2.2% during the fourth quarter. Sara Bay Financial now owns 10,195 shares of the financial services provider’s stock worth $485,000 after buying an additional 218 shares during the period. IndexIQ Advisors LLC increased its position in Ally Financial by 3.8% during the third quarter. IndexIQ Advisors LLC now owns 6,366 shares of the financial services provider’s stock worth $325,000 after buying an additional 231 shares during the period. Finally, Captrust Financial Advisors increased its position in Ally Financial by 4.8% during the third quarter. Captrust Financial Advisors now owns 5,297 shares of the financial services provider’s stock worth $270,000 after buying an additional 241 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About Ally Financial (Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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