Ally Financial (NYSE:ALLY) Price Target Cut to $51.00 by Analysts at Evercore ISI

Ally Financial (NYSE:ALLY) had its price target cut by Evercore ISI from $53.00 to $51.00 in a research report released on Thursday, Marketbeat.com reports. They currently have an outperform rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. BTIG Research reaffirmed a “neutral” rating on shares of Ally Financial in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Ally Financial from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Ally Financial in a research report on Tuesday, January 6th. JPMorgan Chase & Co. increased their price target on Ally Financial from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Finally, Morgan Stanley set a $53.00 price objective on Ally Financial and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.31.

Ally Financial Stock Down 2.9%

Ally Financial stock opened at $42.10 on Thursday. Ally Financial has a 12 month low of $29.52 and a 12 month high of $47.27. The stock has a fifty day simple moving average of $44.00 and a two-hundred day simple moving average of $41.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 0.22 and a beta of 1.19.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts predict that Ally Financial will post 3.57 EPS for the current fiscal year.

Ally Financial declared that its Board of Directors has approved a share buyback program on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 15.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, February 2nd. Ally Financial’s dividend payout ratio is 51.06%.

Insider Buying and Selling at Ally Financial

In related news, CEO Michael George Rhodes acquired 23,800 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were purchased at an average price of $41.68 per share, with a total value of $991,984.00. Following the completion of the purchase, the chief executive officer directly owned 49,434 shares of the company’s stock, valued at $2,060,409.12. This represents a 92.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Russell E. Hutchinson acquired 11,566 shares of the stock in a transaction dated Tuesday, January 27th. The shares were bought at an average cost of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the transaction, the chief financial officer owned 225,336 shares in the company, valued at approximately $9,727,755.12. This represents a 5.41% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ally Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sweeney & Michel LLC boosted its position in shares of Ally Financial by 4.0% in the third quarter. Sweeney & Michel LLC now owns 6,663 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 256 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of Ally Financial by 43.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 904 shares of the financial services provider’s stock valued at $41,000 after buying an additional 276 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Ally Financial by 2.0% during the 4th quarter. Signaturefd LLC now owns 13,933 shares of the financial services provider’s stock valued at $631,000 after buying an additional 277 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Ally Financial by 1.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 17,941 shares of the financial services provider’s stock worth $813,000 after buying an additional 279 shares during the period. Finally, Assetmark Inc. increased its stake in Ally Financial by 2.0% in the 4th quarter. Assetmark Inc. now owns 14,583 shares of the financial services provider’s stock worth $660,000 after buying an additional 281 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

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.