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

Ally Financial (NYSE:ALLY) had its price target trimmed by Truist Financial from $47.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts also recently commented on ALLY. Keefe, Bruyette & Woods lifted their price objective on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. StockNews.com downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their price target on shares of Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lifted their target price on Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group raised their price target on shares of Ally Financial from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.53.

Ally Financial Trading Down 2.6 %

Shares of ALLY opened at $32.16 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. Ally Financial has a 1-year low of $30.06 and a 1-year high of $45.46. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12. The firm has a 50 day simple moving average of $36.72 and a 200-day simple moving average of $36.44.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.21. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $0.45 earnings per share. Ally Financial’s revenue was up 3.6% compared to the same quarter last year. Equities analysts forecast that Ally Financial will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.73%. Ally Financial’s dividend payout ratio (DPR) is presently 46.15%.

Insider Transactions at Ally Financial

In related news, CEO Michael George Rhodes acquired 25,634 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average price of $39.09 per share, for a total transaction of $1,002,033.06. Following the completion of the purchase, the chief executive officer now directly owns 25,634 shares of the company’s stock, valued at $1,002,033.06. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Russell E. Hutchinson purchased 19,100 shares of the stock in a transaction dated Friday, January 24th. The shares were purchased at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the completion of the transaction, the chief financial officer now owns 202,845 shares in the company, valued at $8,002,235.25. This trade represents a 10.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Ally Financial

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Ally Financial by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 28,252,149 shares of the financial services provider’s stock valued at $1,017,360,000 after purchasing an additional 111,231 shares during the last quarter. State Street Corp increased its holdings in shares of Ally Financial by 0.5% in the third quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock valued at $380,981,000 after buying an additional 51,426 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Ally Financial by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 4,895,467 shares of the financial services provider’s stock worth $175,990,000 after acquiring an additional 184,278 shares in the last quarter. First Manhattan CO. LLC. raised its position in shares of Ally Financial by 4.8% during the fourth quarter. First Manhattan CO. LLC. now owns 4,226,639 shares of the financial services provider’s stock worth $153,752,000 after purchasing an additional 192,295 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Ally Financial by 84.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider’s stock valued at $151,320,000 after purchasing an additional 1,918,965 shares during the period. Institutional investors own 88.76% of the company’s stock.

Ally Financial Company Profile

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.