Truist Financial Has Lowered Expectations for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its price target cut by equities researchers at Truist Financial from $47.00 to $45.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 39.94% from the stock’s previous close.

A number of other brokerages have also issued reports on ALLY. Jefferies Financial Group upped their price target on shares of Ally Financial from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. raised their target price on Ally Financial from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their price target on Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group raised their price objective on Ally Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Finally, StockNews.com lowered Ally Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial presently has a consensus rating of “Hold” and a consensus price target of $42.53.

Ally Financial Stock Down 2.6 %

Shares of Ally Financial stock opened at $32.16 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.32 and a beta of 1.12. The firm’s 50-day moving average is $36.72 and its two-hundred day moving average is $36.42. Ally Financial has a 1 year low of $30.06 and a 1 year high of $45.46.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.57 by $0.21. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company posted $0.45 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts expect that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael George Rhodes bought 25,634 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was bought at an average price of $39.09 per share, with a total value 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 represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Russell E. Hutchinson purchased 19,100 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was bought at an average price of $39.45 per share, with a total value of $753,495.00. Following the acquisition, the chief financial officer now owns 202,845 shares in the company, valued at $8,002,235.25. This trade represents a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Ally Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oak Thistle LLC bought a new position in Ally Financial during the 4th quarter worth approximately $1,112,000. Point72 Asset Management L.P. acquired a new stake in shares of Ally Financial during the third quarter worth $21,571,000. State Street Corp lifted its position in shares of 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 last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Ally Financial in the 4th quarter valued at about $461,000. Finally, Franklin Resources Inc. grew its position in shares of Ally Financial by 184.7% during the 3rd quarter. Franklin Resources Inc. now owns 532,090 shares of the financial services provider’s stock valued at $19,044,000 after buying an additional 345,210 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

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.