Barclays Issues Positive Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its target price raised by equities research analysts at Barclays from $54.00 to $56.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 21.82% from the company’s current price.

A number of other equities research analysts also recently weighed in on ALLY. JPMorgan Chase & Co. dropped their price target on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. The Goldman Sachs Group restated a “buy” rating and issued a $56.00 price target on shares of Ally Financial in a research report on Monday. Truist Financial dropped their price target on Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, January 26th. UBS Group set a $48.00 price objective on shares of Ally Financial in a research note on Monday, January 12th. Finally, Bank of America boosted their target price on shares of Ally Financial from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.50.

Ally Financial Stock Performance

ALLY stock traded up $0.61 during mid-day trading on Monday, hitting $45.97. 149,361 shares of the company were exchanged, compared to its average volume of 3,787,785. Ally Financial has a 1-year low of $29.91 and a 1-year high of $47.27. The stock has a market capitalization of $14.16 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 0.23 and a beta of 1.14. The business has a 50 day simple moving average of $40.03 and a 200-day simple moving average of $41.30. 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 announced its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.14 billion. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. On average, equities analysts forecast that Ally Financial will post 3.57 earnings per share for the current year.

Insider Activity

In other Ally Financial news, CEO Michael George Rhodes bought 23,800 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were purchased at an average price of $41.68 per share, for a total transaction of $991,984.00. Following the completion of the transaction, the chief executive officer directly owned 49,434 shares in the company, valued at approximately $2,060,409.12. The trade was a 92.85% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Russell E. Hutchinson bought 11,566 shares of the stock in a transaction on Tuesday, January 27th. The shares were acquired at an average cost of $43.17 per share, with a total value of $499,304.22. Following the purchase, the chief financial officer owned 225,336 shares of the company’s stock, valued at approximately $9,727,755.12. This represents a 5.41% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Ally Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in Ally Financial by 106.5% in the first quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock valued at $9,158,000 after purchasing an additional 129,497 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Ally Financial by 22.8% during the first quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 415 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of 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 purchasing an additional 1,292 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Ally Financial in the first quarter valued at approximately $259,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Ally Financial by 374.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,166 shares during the period. Institutional investors own 88.76% of the company’s stock.

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.