Wells Fargo & Company Cuts Ally Financial (NYSE:ALLY) Price Target to $32.00

Ally Financial (NYSE:ALLY - Free Report) had its price objective reduced by Wells Fargo & Company from $34.00 to $32.00 in a report released on Monday morning,Benzinga reports. They currently have an underweight rating on the financial services provider's stock.

Other analysts have also recently issued research reports about the stock. Morgan Stanley decreased their target price on shares of Ally Financial from $45.00 to $39.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. For consumer lenders, the Trump Administration’s hardline approach to tariffs is “difficult to ignore” and there’s clearly more downside to the group if tariffs remain near current levels. If tariffs remain in place, risks to growth would skew meaningfully to the downside and risks to inflation to the upside, adds the analyst, who is downgrading the firm’s Consumer Finance industry view to Cautious from Attractive. StockNews.com downgraded Ally Financial from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Barclays lifted their target price on shares of Ally Financial from $36.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on Ally Financial from $43.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Truist Financial reduced their target price on Ally Financial from $47.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ally Financial has an average rating of "Hold" and an average target price of $41.69.

Ally Financial Price Performance

Shares of ALLY stock traded up $0.74 during trading on Monday, hitting $32.80. The company had a trading volume of 177,454 shares, compared to its average volume of 3,510,318. The stock's 50-day moving average price is $34.75 and its 200 day moving average price is $36.10. Ally Financial has a one year low of $29.52 and a one year high of $45.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $10.08 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.15. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period last year, the firm posted $0.45 earnings per share. Equities analysts expect that Ally Financial will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Thursday, May 1st. Ally Financial's dividend payout ratio is currently 88.24%.

Insider Activity at Ally Financial

In other news, CEO Michael George Rhodes purchased 25,634 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were purchased at an average price 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 SEC, which is available through this hyperlink. Also, CFO Russell E. Hutchinson acquired 8,200 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were acquired at an average cost of $30.81 per share, with a total value of $252,642.00. Following the purchase, the chief financial officer now directly owns 236,421 shares of the company's stock, valued at $7,284,131.01. This trade represents a 3.59 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 52,934 shares of company stock worth $2,008,170. Company insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Copia Wealth Management bought a new stake in shares of Ally Financial in the 1st quarter worth approximately $27,000. Bessemer Group Inc. increased its stake in shares of Ally Financial by 59.6% in the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock worth $37,000 after buying an additional 377 shares during the period. Principal Securities Inc. grew its holdings in Ally Financial by 89.4% in the 4th 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 purchased a new stake in shares of Ally Financial during the fourth quarter worth about $43,000. Finally, UMB Bank n.a. lifted its holdings in Ally Financial by 218.8% in the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider's stock worth $56,000 after buying an additional 1,061 shares during the period. Institutional investors own 88.76% of the company's stock.

Ally Financial Company Profile

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.