Ally Financial (NYSE:ALLY) Now Covered by Truist Financial

Truist Financial began coverage on shares of Ally Financial (NYSE:ALLY - Free Report) in a research report released on Tuesday,Benzinga reports. The brokerage issued a buy rating and a $42.00 price target on the financial services provider's stock.

ALLY has been the subject of several other research reports. Morgan Stanley lifted their target price on Ally Financial from $41.00 to $42.00 and gave the stock an "overweight" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on shares of Ally Financial from $40.00 to $42.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Evercore ISI reduced their price target on shares of Ally Financial from $47.00 to $38.00 and set an "in-line" rating on the stock in a research report on Monday, October 7th. Raymond James raised shares of Ally Financial from an "underperform" rating to a "market perform" rating in a research report on Monday, October 21st. Finally, TD Cowen lowered their price objective on Ally Financial from $45.00 to $37.00 and set a "hold" rating for the company in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $42.67.

Ally Financial Stock Down 1.2 %

NYSE ALLY traded down $0.42 on Tuesday, reaching $35.79. The company had a trading volume of 3,688,785 shares, compared to its average volume of 2,762,096. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial has a 1 year low of $31.77 and a 1 year high of $45.46. The firm has a 50-day moving average of $36.86 and a 200-day moving average of $38.21. The firm has a market capitalization of $10.91 billion, a PE ratio of 14.32, a P/E/G ratio of 0.46 and a beta of 1.44.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The business's quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Ally Financial will post 3 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 annualized dividend and a yield of 3.35%. Ally Financial's dividend payout ratio (DPR) is presently 48.00%.

Hedge Funds Weigh In On Ally Financial

Several large investors have recently made changes to their positions in the business. State Street Corp increased its position in Ally Financial by 0.5% in the 3rd quarter. State Street Corp now owns 10,704,719 shares of the financial services provider's stock worth $380,981,000 after buying an additional 51,426 shares during the period. Dimensional Fund Advisors LP increased its position in Ally Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider's stock worth $384,715,000 after acquiring an additional 987,489 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Ally Financial by 217.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider's stock valued at $81,260,000 after purchasing an additional 1,563,008 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ally Financial by 19.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,106,589 shares of the financial services provider's stock valued at $74,974,000 after purchasing an additional 344,543 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Ally Financial by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 1,672,812 shares of the financial services provider's stock worth $59,535,000 after purchasing an additional 75,080 shares during the period. Institutional investors and hedge funds own 88.76% of the company's stock.

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.