Ally Financial (NYSE:ALLY – Get Free Report) had its target price dropped by equities researchers at UBS Group from $50.00 to $48.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. UBS Group‘s price objective points to a potential upside of 24.37% from the stock’s current price.
ALLY has been the topic of a number of other reports. Royal Bank Of Canada reduced their target price on shares of Ally Financial from $55.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ally Financial in a report on Friday, September 18th. Evercore set a $40.00 price target on Ally Financial in a report on Wednesday, October 21st. TD Cowen dropped their price objective on Ally Financial from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, October 21st. Finally, The Goldman Sachs Group set a $45.00 price objective on Ally Financial in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ally Financial has a consensus rating of “Moderate Buy” and an average target price of $47.93.
Read Our Latest Stock Analysis on Ally Financial
Ally Financial Trading Up 1.1%
Shares of NYSE ALLY traded up $0.42 during mid-day trading on Monday, reaching $38.59. The company had a trading volume of 3,559,634 shares, compared to its average volume of 3,590,840. The business’s 50-day moving average is $39.78 and its 200-day moving average is $41.92. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.45. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 0.32 and a beta of 1.11. Ally Financial has a 52 week low of $35.92 and a 52 week high of $47.29.
Ally Financial (NYSE:ALLY – Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Ally Financial had a net margin of 16.84% and a return on equity of 12.11%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business posted $1.15 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts expect that Ally Financial will post 4.99 earnings per share for the current year.
Insider Activity
In other Ally Financial news, insider Stephanie Richard sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the transaction, the insider owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kathleen Patterson sold 12,831 shares of the business’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $38.65, for a total transaction of $495,918.15. Following the completion of the sale, the insider owned 67,781 shares of the company’s stock, valued at approximately $2,619,735.65. This represents a 15.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.46% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Ally Financial
Institutional investors have recently bought and sold shares of the business. Inscription Capital LLC raised its position in shares of Ally Financial by 29.7% in the 3rd quarter. Inscription Capital LLC now owns 8,447 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 1,932 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of Ally Financial by 0.3% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 235,464 shares of the financial services provider’s stock worth $8,858,000 after purchasing an additional 619 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in Ally Financial by 44.7% during the third quarter. Chicago Partners Investment Group LLC now owns 35,736 shares of the financial services provider’s stock valued at $1,396,000 after purchasing an additional 11,045 shares in the last quarter. Covestor Ltd boosted its position in Ally Financial by 20.1% during the third quarter. Covestor Ltd now owns 1,727 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 289 shares in the last quarter. Finally, Provenance Wealth Advisors LLC bought a new stake in Ally Financial during the third quarter valued at about $46,000. 88.76% of the stock is owned by hedge funds and other institutional investors.
Ally Financial Company Profile
Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan, and traded on the New York Stock Exchange under the symbol ALLY. The company primarily serves consumers, automotive dealers and businesses in the United States through online and branchless banking and financing platforms.
Ally’s automotive finance business provides retail installment loans and leases to consumers and floorplan financing and other services to automotive dealers. Its consumer banking operations, conducted through Ally Bank, offer deposit products such as savings accounts, money market accounts and certificates of deposit, along with consumer lending products.
The company also provides credit cards and commercial financing, and offers investment and brokerage services through Ally Invest.
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