Stephens upgraded shares of Ally Financial (NYSE:ALLY) from an equal rating to a weight rating in a report issued on Monday morning, BenzingaRatingsTable reports. The brokerage currently has $44.00 price target on the financial services provider’s stock, up from their prior price target of $37.00.
A number of other analysts have also weighed in on ALLY. Barclays reaffirmed a buy rating on shares of Ally Financial in a research note on Sunday, July 21st. Zacks Investment Research lowered shares of Ally Financial from a buy rating to a hold rating and set a $33.00 price target for the company. in a research note on Tuesday, July 2nd. Wells Fargo & Co reaffirmed a buy rating on shares of Ally Financial in a research note on Sunday, July 21st. Citigroup set a $39.00 price target on shares of Ally Financial and gave the stock a buy rating in a research note on Friday, July 19th. Finally, Nomura upped their price target on shares of Ally Financial from $29.00 to $34.00 and gave the stock a neutral rating in a research note on Friday, July 19th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $36.45.
Shares of NYSE:ALLY opened at $34.78 on Monday. The company has a 50 day moving average of $31.88 and a 200-day moving average of $29.90. The firm has a market cap of $13.35 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.68 and a beta of 1.31. Ally Financial has a twelve month low of $20.60 and a twelve month high of $35.11. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.62.
Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Ally Financial had a net margin of 26.59% and a return on equity of 10.89%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 EPS. Equities research analysts forecast that Ally Financial will post 3.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.17 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.96%. Ally Financial’s payout ratio is currently 20.36%.
In related news, CAO David J. Debrunner sold 2,222 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $31.14, for a total value of $69,193.08. Following the sale, the chief accounting officer now directly owns 101,313 shares in the company, valued at approximately $3,154,886.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Diane E. Morais sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $33.35, for a total transaction of $500,250.00. Following the completion of the sale, the insider now owns 220,048 shares in the company, valued at $7,338,600.80. The disclosure for this sale can be found here. Insiders sold a total of 21,666 shares of company stock worth $712,118 over the last quarter. Insiders own 0.35% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. acquired a new stake in shares of Ally Financial during the second quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Ally Financial during the second quarter valued at approximately $49,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Ally Financial by 102.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,242 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,132 shares during the period. SG3 Management LLC acquired a new stake in shares of Ally Financial during the second quarter valued at approximately $73,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of Ally Financial during the second quarter valued at approximately $96,000. Institutional investors and hedge funds own 95.50% of the company’s stock.
Ally Financial Company Profile
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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