Ally Financial (NYSE:ALLY) Hits New 12-Month Low Following Analyst Downgrade

Ally Financial Inc. (NYSE:ALLY) hit a new 52-week low on Friday after Truist Financial lowered their price target on the stock from $47.00 to $45.00. Truist Financial currently has a buy rating on the stock. Ally Financial traded as low as $30.76 and last traded at $30.54, with a volume of 3073967 shares trading hands. The stock had previously closed at $33.00.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group upped their price target on Ally Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada upped their target price on Ally Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. BTIG Research cut Ally Financial from a “neutral” rating to a “sell” rating and set a $30.00 price objective on the stock. in a report on Tuesday, March 25th. Finally, Jefferies Financial Group boosted their price target on shares of Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.53.

Insiders Place Their Bets

In related news, CEO Michael George Rhodes purchased 25,634 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was acquired at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the completion of the transaction, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Russell E. Hutchinson acquired 19,100 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average cost of $39.45 per share, with a total value of $753,495.00. Following the acquisition, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at $8,002,235.25. This trade represents a 10.39 % increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

Institutional Trading of Ally Financial

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its position in Ally Financial by 1.1% in the 4th quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider’s stock valued at $946,000 after buying an additional 280 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Ally Financial by 4.9% in the fourth quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 297 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Ally Financial by 2.1% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,332 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 320 shares during the period. Lido Advisors LLC grew its stake in Ally Financial by 5.9% during the 4th quarter. Lido Advisors LLC now owns 6,455 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 359 shares in the last quarter. Finally, Waterfront Wealth Inc. increased its holdings in Ally Financial by 0.8% during the 4th quarter. Waterfront Wealth Inc. now owns 50,924 shares of the financial services provider’s stock worth $1,834,000 after purchasing an additional 389 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Stock Down 2.6 %

The company has a market cap of $9.88 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12. 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 business has a 50-day simple moving average of $36.72 and a 200-day simple moving average of $36.40.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.21. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the company earned $0.45 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.73%. Ally Financial’s dividend payout ratio is presently 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.