Ally Financial (NYSE:ALLY) Given New $47.00 Price Target at Truist Financial

Ally Financial (NYSE:ALLY - Free Report) had its target price boosted by Truist Financial from $42.00 to $47.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider's stock.

A number of other brokerages also recently issued reports on ALLY. Raymond James upgraded Ally Financial from an "underperform" rating to a "market perform" rating in a research report on Monday, October 21st. Royal Bank of Canada raised their price target on Ally Financial from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Evercore ISI lowered their price target on 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. StockNews.com downgraded Ally Financial from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price target on Ally Financial from $44.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $43.76.

Ally Financial Price Performance

Shares of ALLY stock traded down $0.56 on Tuesday, reaching $38.98. The company's stock had a trading volume of 1,830,822 shares, compared to its average volume of 3,921,843. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.51. Ally Financial has a 12-month low of $31.95 and a 12-month high of $45.46. The company has a market capitalization of $11.88 billion, a P/E ratio of 15.00, a PEG ratio of 0.43 and a beta of 1.44. The stock's 50 day simple moving average is $37.32 and its 200-day simple moving average is $37.87.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.21. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $0.45 earnings per share. The firm's revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts predict that Ally Financial will post 3.7 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.20 annualized dividend and a yield of 3.08%. Ally Financial's payout ratio is 46.15%.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, CEO Michael George Rhodes bought 25,634 shares of the stock in a transaction dated Monday, January 27th. The stock was purchased at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the completion of the acquisition, the chief executive officer now owns 25,634 shares of the company's stock, valued at approximately $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Russell E. Hutchinson bought 19,100 shares of the stock in a transaction dated Friday, January 24th. The shares were acquired at an average price of $39.45 per share, with a total value of $753,495.00. Following the completion of the acquisition, the chief financial officer now directly owns 202,845 shares of the company's stock, valued at approximately $8,002,235.25. The trade was a 10.39 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On Ally Financial

Several large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in Ally Financial by 36.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 81,592 shares of the financial services provider's stock worth $3,237,000 after acquiring an additional 21,622 shares during the last quarter. APG Asset Management N.V. lifted its position in Ally Financial by 186.8% in the 2nd quarter. APG Asset Management N.V. now owns 32,854 shares of the financial services provider's stock valued at $1,216,000 after acquiring an additional 21,400 shares in the last quarter. MBB Public Markets I LLC bought a new position in Ally Financial in the 2nd quarter valued at approximately $799,000. Mackenzie Financial Corp purchased a new stake in shares of Ally Financial during the second quarter valued at $898,000. Finally, NewEdge Advisors LLC increased its holdings in Ally Financial by 597.3% in the 2nd quarter. NewEdge Advisors LLC now owns 131,183 shares of the financial services provider's stock worth $5,204,000 after buying an additional 112,369 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

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.