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

Ally Financial (NYSE:ALLY) had its target price boosted by research analysts at Truist Financial from $42.00 to $47.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 19.73% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company increased their price objective on shares of Ally Financial from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Thursday, January 23rd. Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Jefferies Financial Group boosted their target price 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. Royal Bank of Canada raised their price target on shares of Ally Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley lifted their target price on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ally Financial has an average rating of “Hold” and a consensus target price of $43.76.

Ally Financial Trading Up 0.6 %

NYSE ALLY opened at $39.26 on Tuesday. Ally Financial has a 52 week low of $31.95 and a 52 week high of $45.46. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 1.51. The stock has a market cap of $11.96 billion, a P/E ratio of 15.10, a PEG ratio of 0.42 and a beta of 1.44. The company’s fifty day simple moving average is $37.06 and its 200-day simple moving average is $37.89.

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 business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2,021,808.41 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts predict that Ally Financial will post 3.91 EPS for the current fiscal year.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, CFO Russell E. Hutchinson bought 19,100 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average cost of $39.45 per share, for a total transaction of $753,495.00. Following the acquisition, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at $8,002,235.25. This trade represents a 10.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its position in shares of Ally Financial by 68.8% during the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock worth $2,455,000 after purchasing an additional 28,114 shares during the period. Oak Thistle LLC acquired a new stake in Ally Financial during the 4th quarter worth about $1,112,000. CWA Asset Management Group LLC acquired a new stake in Ally Financial during the 3rd quarter worth about $1,338,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ally Financial by 58.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock worth $1,796,000 after buying an additional 18,671 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Ally Financial in the third quarter worth approximately $21,571,000. Institutional investors and hedge funds 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.