Truist Financial Issues Pessimistic Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its price objective lowered by investment analysts at Truist Financial from $45.00 to $41.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 27.69% from the stock’s current price.

A number of other research analysts also recently commented on ALLY. Bank of America reduced their target price on Ally Financial from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Jefferies Financial Group increased their price objective 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. The Goldman Sachs Group boosted their price objective on Ally Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Wells Fargo & Company dropped their target price on Ally Financial from $34.00 to $32.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ally Financial from $43.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.69.

Ally Financial Stock Up 2.2 %

ALLY stock opened at $32.11 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The firm has a 50 day simple moving average of $34.75 and a 200-day simple moving average of $36.10. The company has a market capitalization of $9.86 billion, a P/E ratio of 12.35, a PEG ratio of 0.32 and a beta of 1.12. Ally Financial has a twelve month low of $29.52 and a twelve month high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.15. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $2.04 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. During the same period last year, the business earned $0.45 EPS. On average, equities research analysts predict that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, CFO Russell E. Hutchinson purchased 19,100 shares of the business’s stock in a transaction on Friday, January 24th. The stock was bought 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 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael George Rhodes acquired 25,634 shares of Ally Financial stock in a transaction dated Monday, January 27th. The shares were acquired at an average price of $39.09 per share, with a total value of $1,002,033.06. Following the transaction, the chief executive officer now owns 25,634 shares in the company, valued at approximately $1,002,033.06. This represents a ? increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 52,934 shares of company stock valued at $2,008,170. 0.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Ally Financial by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 28,252,149 shares of the financial services provider’s stock worth $1,017,360,000 after acquiring an additional 111,231 shares during the last quarter. Geode Capital Management LLC raised its holdings in Ally Financial by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 4,895,467 shares of the financial services provider’s stock worth $175,990,000 after buying an additional 184,278 shares during the period. First Manhattan CO. LLC. lifted its stake in Ally Financial by 4.8% during the fourth quarter. First Manhattan CO. LLC. now owns 4,226,639 shares of the financial services provider’s stock valued at $153,752,000 after buying an additional 192,295 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Ally Financial by 84.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider’s stock worth $151,320,000 after buying an additional 1,918,965 shares during the period. Finally, Northern Trust Corp increased its position in shares of Ally Financial by 28.0% in the fourth quarter. Northern Trust Corp now owns 3,941,459 shares of the financial services provider’s stock worth $141,932,000 after acquiring an additional 863,052 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

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.