Ally Financial (NYSE:ALLY – Get Free Report) had its price objective increased by equities research analysts at Royal Bank Of Canada from $52.00 to $55.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 20.32% from the stock’s previous close.
A number of other analysts also recently issued reports on ALLY. JPMorgan Chase & Co. dropped their target price 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. Morgan Stanley raised their target price on shares of Ally Financial from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Evercore reaffirmed an “outperform” rating and set a $54.00 price target on shares of Ally Financial in a research report on Tuesday, April 21st. Truist Financial set a $54.00 price target on Ally Financial in a report on Tuesday, April 21st. Finally, Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.79.
Check Out Our Latest Stock Report on Ally Financial
Ally Financial Stock Up 1.3%
Ally Financial (NYSE:ALLY – Get Free Report) last released its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, sell-side analysts expect that Ally Financial will post 5.33 EPS for the current year.
Insider Transactions at Ally Financial
In other news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.14, for a total transaction of $210,700.00. Following the sale, the insider directly owned 93,927 shares of the company’s stock, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas R. Timmerman sold 39,675 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the completion of the transaction, the insider directly owned 477,627 shares of the company’s stock, valued at $21,574,411.59. This represents a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.46% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in ALLY. Norges Bank acquired a new position in shares of Ally Financial during the fourth quarter valued at $157,610,000. Wellington Management Group LLP increased its holdings in shares of Ally Financial by 19.5% in the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock worth $646,347,000 after acquiring an additional 2,332,610 shares during the period. Qube Research & Technologies Ltd lifted its position in Ally Financial by 8,255.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock valued at $48,231,000 after purchasing an additional 1,215,659 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new position in Ally Financial during the 3rd quarter valued at about $45,733,000. Finally, Bank of America Corp DE boosted its stake in Ally Financial by 38.9% during the 2nd quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock valued at $146,888,000 after purchasing an additional 1,056,060 shares during the period. 88.76% of the stock is currently owned by institutional investors.
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.
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