Ally Financial (NYSE:ALLY) Given New $56.00 Price Target at Barclays

Ally Financial (NYSE:ALLY) had its price target boosted by Barclays from $54.00 to $56.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other analysts also recently commented on ALLY. TD Cowen reissued a “buy” rating on shares of Ally Financial in a research report on Thursday, January 8th. UBS Group set a $48.00 price objective on shares of Ally Financial in a research note on Monday, January 12th. Bank of America boosted their price objective on shares of Ally Financial from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Truist Financial reduced their price objective on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Finally, Evercore reduced their price objective on shares of Ally Financial from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.64.

Ally Financial Stock Performance

ALLY stock opened at $46.32 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 0.23 and a beta of 1.14. Ally Financial has a 12 month low of $29.91 and a 12 month high of $47.27. The firm has a 50 day moving average of $40.12 and a two-hundred day moving average of $41.35.

Ally Financial (NYSE:ALLY) last posted its earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.93 by $0.18. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. As a group, equities analysts anticipate that Ally Financial will post 5.19 EPS for the current fiscal year.

Ally Financial Announces Dividend

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

Insider Activity at Ally Financial

In related news, CFO Russell E. Hutchinson bought 11,566 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was purchased at an average cost of $43.17 per share, for a total transaction of $499,304.22. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas R. Timmerman sold 39,675 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the transaction, the insider 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 ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Ally Financial

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