Ally Financial (NYSE:ALLY) Given New $50.00 Price Target at The Goldman Sachs Group

Ally Financial (NYSE:ALLY) had its price objective upped by The Goldman Sachs Group from $45.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also commented on ALLY. Truist Financial boosted their target price on Ally Financial from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. BTIG Research downgraded Ally Financial from a “neutral” rating to a “sell” rating and set a $30.00 price objective for the company. in a report on Tuesday, March 25th. Wolfe Research cut Ally Financial from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. lifted their price target on shares of Ally Financial from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.65.

Ally Financial Price Performance

Ally Financial stock opened at $36.64 on Tuesday. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.32 and a beta of 1.40. Ally Financial has a 52-week low of $31.95 and a 52-week 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 stock’s 50 day moving average price is $37.05 and its two-hundred day moving average price is $36.43.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. Ally Financial’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts predict that Ally Financial will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, January 31st. Ally Financial’s payout ratio is 46.15%.

Insider Buying and Selling

In related news, CFO Russell E. Hutchinson bought 19,100 shares of Ally Financial stock in a transaction dated 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 transaction, 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 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 purchased 25,634 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was bought at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the acquisition, the chief executive officer now directly owns 25,634 shares in the company, valued at $1,002,033.06. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Ally Financial

Large investors have recently bought and sold shares of the company. Oak Thistle LLC purchased a new stake in Ally Financial in the 4th quarter worth about $1,112,000. Point72 Asset Management L.P. bought a new stake in shares of Ally Financial in the third quarter valued at approximately $21,571,000. State Street Corp lifted its stake in shares of Ally Financial by 0.5% during the 3rd quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock valued at $380,981,000 after buying an additional 51,426 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in Ally Financial in the 4th quarter worth approximately $461,000. Finally, Franklin Resources Inc. grew its stake in Ally Financial by 184.7% in 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 in the last quarter. 88.76% of the stock is 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.