Truist Financial Increases Ally Financial (NYSE:ALLY) Price Target to $47.00

Ally Financial (NYSE:ALLY) had its target price raised by equities research analysts at Truist Financial from $42.00 to $47.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 20.66% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Citigroup lifted their target price on shares of Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group lifted their price objective on Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods upped their target price on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Royal Bank of Canada lifted their target price on Ally Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Wolfe Research cut Ally Financial from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.76.

Ally Financial Stock Down 0.3 %

Shares of ALLY opened at $38.95 on Tuesday. The stock’s 50-day moving average price is $37.20 and its two-hundred day moving average price is $37.84. 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 $11.87 billion, a PE ratio of 14.98, a PEG ratio of 0.42 and a beta of 1.44. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 1.51.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.02 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. On average, analysts anticipate that Ally Financial will post 3.91 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Russell E. Hutchinson purchased 19,100 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was bought at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the purchase, the chief financial officer now owns 202,845 shares of the company’s stock, valued at $8,002,235.25. The trade was a 10.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rhodes acquired 25,634 shares of the company’s stock in a transaction on Monday, January 27th. The shares were acquired 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. The trade was a ∞ increase in their ownership of the stock. 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

A number of large investors have recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its stake in Ally Financial by 1.9% in the 3rd quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 293 shares during the period. Maverick Capital Ltd. lifted its holdings in shares of Ally Financial by 1.2% in the third quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider’s stock worth $930,000 after buying an additional 299 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Ally Financial by 8.2% in the third quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 352 shares during the period. Allworth Financial LP grew its stake in Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 421 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 577 shares during the period. 88.76% of the stock is owned by 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.