Ally Financial (NYSE:ALLY) Given New $55.00 Price Target at Morgan Stanley

Ally Financial (NYSE:ALLY) had its price objective hoisted by Morgan Stanley from $53.00 to $55.00 in a research note released on Monday morning, Marketbeat reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Ally Financial from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. UBS Group set a $48.00 price objective on shares of Ally Financial in a report on Monday, January 12th. Bank of America raised their price objective on shares of Ally Financial from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Finally, Evercore decreased their price objective on shares of Ally Financial from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.64.

Ally Financial Price Performance

ALLY opened at $46.32 on Monday. The company has a fifty day simple moving average of $40.12 and a 200 day simple moving average of $41.35. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.23 and a beta of 1.14. Ally Financial has a twelve month low of $29.91 and a twelve month high of $47.27. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.31.

Ally Financial (NYSE:ALLY) last released 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 business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The business’s revenue was up 36.4% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. Equities research analysts expect that Ally Financial will post 5.19 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. Ally Financial’s payout ratio is 29.27%.

Insider Activity

In other news, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction dated 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 completion of the transaction, the insider directly owned 477,627 shares of the company’s stock, valued at approximately $21,574,411.59. The trade was a 7.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Russell E. Hutchinson bought 11,566 shares of Ally Financial stock in a transaction on Tuesday, January 27th. The shares were purchased at an average cost of $43.17 per share, with a total value of $499,304.22. Following the completion of the purchase, the chief financial officer directly owned 225,336 shares in the company, valued at $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ally Financial during the 4th quarter valued at about $29,000. Mather Group LLC. acquired a new position in Ally Financial during the 3rd quarter valued at about $31,000. Fideuram Asset Management Ireland dac acquired a new position in Ally Financial during the 4th quarter valued at about $35,000. Safe Harbor Fiduciary LLC acquired a new position in Ally Financial during the 4th quarter valued at about $37,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Ally Financial during the 4th quarter valued at about $38,000. 88.76% of the stock is owned by institutional investors and hedge funds.

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.