Ally Financial (NYSE:ALLY) Hits New 52-Week Low After Analyst Downgrade

Ally Financial Inc. (NYSE:ALLY - Get Free Report)'s share price reached a new 52-week low during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $43.00 to $36.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ally Financial traded as low as $30.76 and last traded at $30.54, with a volume of 3073967 shares changing hands. The stock had previously closed at $33.00.

A number of other equities analysts have also recently commented on ALLY. Morgan Stanley raised their target price on Ally Financial from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Jefferies Financial Group raised their price objective on Ally Financial from $35.00 to $40.00 and gave the stock a "hold" rating in a research note on Thursday, January 23rd. Barclays boosted their price objective on Ally Financial from $36.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Compass Point upgraded shares of Ally Financial from a "neutral" rating to a "buy" rating and raised their target price for the stock from $37.00 to $41.00 in a research note on Monday. Finally, Truist Financial lowered their price target on shares of Ally Financial from $47.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $42.41.

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Insider Activity

In other Ally Financial news, CEO Michael George Rhodes bought 25,634 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was purchased at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the acquisition, the chief executive officer now owns 25,634 shares in the company, valued at $1,002,033.06. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Russell E. Hutchinson purchased 19,100 shares of Ally Financial stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the transaction, the chief financial officer now directly owns 202,845 shares of the company's stock, valued at $8,002,235.25. The trade was a 10.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Principal Securities Inc. increased its stake in Ally Financial by 89.4% during the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider's stock worth $38,000 after acquiring an additional 496 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Ally Financial during the 4th quarter valued at approximately $43,000. UMB Bank n.a. increased its position in shares of Ally Financial by 218.8% during the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 1,061 shares during the last quarter. Harbour Investments Inc. lifted its position in Ally Financial by 38.5% in the fourth quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider's stock worth $77,000 after buying an additional 595 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Ally Financial in the fourth quarter worth $78,000. Institutional investors own 88.76% of the company's stock.

Ally Financial Price Performance

The company has a market capitalization of $10.37 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.51. The firm's 50 day simple moving average is $36.23 and its 200 day simple moving average is $36.34.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.57 by $0.21. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.02 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The firm's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. As a group, research analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.55%. Ally Financial's payout ratio is 46.15%.

About Ally Financial

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.