Ally Financial (NYSE:ALLY – Get Free Report) had its target price lowered by equities research analysts at Truist Financial from $51.00 to $50.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 28.96% from the company’s previous close.
A number of other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $58.00 price objective on shares of Ally Financial in a report on Wednesday, July 22nd. Citigroup dropped their target price on Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. Wall Street Zen cut Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Wells Fargo & Company upped their price target on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Finally, Bank of America raised their price objective on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.67.
Check Out Our Latest Stock Analysis on ALLY
Ally Financial Stock Down 0.8%
Ally Financial (NYSE:ALLY – Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company earned $0.99 EPS. The company’s revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Ally Financial will post 5.2 EPS for the current fiscal year.
Insider Activity at Ally Financial
In related news, insider Stephanie Richard sold 5,000 shares of Ally Financial stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the sale, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Ally Financial during the 2nd quarter valued at $1,315,659,000. Berkshire Hathaway Inc purchased a new position in shares of Ally Financial in the 2nd quarter worth about $1,240,650,000. Dimensional Fund Advisors LP boosted its holdings in shares of Ally Financial by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider’s stock worth $353,776,000 after buying an additional 309,638 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Ally Financial by 11.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider’s stock valued at $266,134,000 after buying an additional 712,443 shares during the period. Finally, Geode Capital Management LLC grew its position in Ally Financial by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider’s stock valued at $243,795,000 after buying an additional 241,000 shares during the period. Institutional investors own 88.76% of the company’s stock.
Ally Financial Company Profile
Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan. Through its subsidiaries, the company provides consumer and commercial financial products, with a primary focus on automotive financing and digital banking.
Ally’s automotive business offers retail installment sales contracts, consumer loans and leasing products through a network of automotive dealers. The company also provides dealer financing and related commercial lending services. Through Ally Bank, it offers deposit accounts, personal loans, mortgage products and other banking services, while Ally Invest provides self-directed investment and brokerage services to individuals.
The company serves customers primarily in the United States through digital platforms, dealer relationships and other distribution channels.
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