Brokerages Set Ally Financial Inc. (NYSE:ALLY) Price Target at $50.31

Ally Financial Inc. (NYSE:ALLY) has earned a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $50.3125.

Several equities analysts recently weighed in on ALLY shares. Royal Bank Of Canada restated an “outperform” rating and set a $52.00 target price on shares of Ally Financial in a report on Monday, January 12th. Evercore dropped their price target on shares of Ally Financial from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Barclays increased their target price on Ally Financial from $44.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Weiss Ratings raised shares of Ally Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Ally Financial from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd.

Insider Buying and Selling at Ally Financial

In other news, CFO Russell E. Hutchinson bought 11,566 shares of the stock in a transaction on Tuesday, January 27th. The shares were purchased at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the purchase, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at $9,727,755.12. This trade represents a 5.41% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael George Rhodes acquired 23,800 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was purchased at an average price of $41.68 per share, for a total transaction of $991,984.00. Following the acquisition, the chief executive officer directly owned 49,434 shares of the company’s stock, valued at $2,060,409.12. The trade was a 92.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Ally Financial

Several large investors have recently modified their holdings of the company. Allworth Financial LP lifted its position in shares of Ally Financial by 385.2% in the 2nd quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 597 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Ally Financial during the 4th quarter worth approximately $29,000. Mather Group LLC. acquired a new stake in shares of Ally Financial in the third quarter valued at $31,000. Hantz Financial Services Inc. raised its stake in shares of Ally Financial by 662.0% in the second quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 715 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in Ally Financial by 116.8% in the 2nd quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 451 shares during the last quarter. 88.76% of the stock is owned by institutional investors.

Ally Financial Trading Up 1.3%

Shares of Ally Financial stock opened at $41.34 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial has a 1 year low of $29.52 and a 1 year high of $47.27. The business has a 50 day moving average price of $43.94 and a 200 day moving average price of $41.48. The company has a market capitalization of $12.74 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.21 and a beta of 1.19.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business earned $0.78 earnings per share. Ally Financial’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts anticipate that Ally Financial will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, February 2nd. Ally Financial’s dividend payout ratio (DPR) is presently 51.06%.

Ally Financial announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 10th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 15.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.