Ally Financial (NYSE:ALLY) Price Target Cut to $50.00 by Analysts at Truist Financial

Ally Financial (NYSE:ALLY) had its price objective reduced by Truist Financial from $51.00 to $50.00 in a research note released on Monday, Marketbeat.com reports. They currently have a buy rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on the company. Weiss Ratings raised Ally Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $52.00 price target on shares of Ally Financial in a research note on Monday, January 12th. Evercore ISI upgraded Ally Financial from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $48.00 to $53.00 in a report on Tuesday, January 6th. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price objective on shares of Ally Financial in a report on Tuesday, January 6th. Finally, UBS Group set a $48.00 price objective on shares of Ally Financial in a research report on Monday, January 12th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.44.

Ally Financial Trading Up 2.7%

NYSE:ALLY opened at $42.21 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial has a fifty-two week low of $29.52 and a fifty-two week high of $47.27. The stock’s 50-day moving average is $43.49 and its two-hundred day moving average is $41.14. The stock has a market cap of $13.00 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 0.21 and a beta of 1.17.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts forecast that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Ally Financial announced that its Board of Directors has initiated a stock buyback plan on Wednesday, December 10th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 15.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be paid a $0.30 dividend. The ex-dividend date is Monday, February 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is presently 51.06%.

Insider Transactions at Ally Financial

In other Ally Financial news, CEO Michael George Rhodes purchased 23,800 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $41.68 per share, for a total transaction of $991,984.00. Following the completion of the acquisition, the chief executive officer directly owned 49,434 shares in the company, valued at $2,060,409.12. This represents a 92.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ally Financial

Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in shares of Ally Financial by 106.5% during the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after purchasing an additional 129,497 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Ally Financial by 22.8% in the first quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock valued at $82,000 after buying an additional 415 shares during the period. Empowered Funds LLC grew its position in Ally Financial by 11.1% during the first quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after buying an additional 1,292 shares in the last quarter. Focus Partners Wealth bought a new position in Ally Financial during the first quarter valued at about $259,000. Finally, GAMMA Investing LLC raised its holdings in Ally Financial by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 4,821 shares of the financial services provider’s stock valued at $188,000 after acquiring an additional 1,526 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Company Profile

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.