Ally Financial (NYSE:ALLY) Upgraded at Wall Street Zen

Ally Financial (NYSE:ALLY) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Several other brokerages have also recently weighed in on ALLY. Truist Financial set a $54.00 target price on shares of Ally Financial in a report on Tuesday, April 21st. Morgan Stanley raised their price objective on shares of Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. JPMorgan Chase & Co. cut their price objective on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. The Goldman Sachs Group raised their price objective on shares of Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Weiss Ratings cut shares of Ally Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.14.

Ally Financial Stock Up 0.1%

Shares of NYSE:ALLY opened at $42.85 on Friday. The firm’s 50 day moving average price is $42.06 and its 200 day moving average price is $42.02. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 0.26 and a beta of 1.12. Ally Financial has a fifty-two week low of $34.30 and a fifty-two week high of $47.27. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.18. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The firm’s revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. As a group, equities research analysts predict that Ally Financial will post 5.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the transaction, the insider directly owned 477,627 shares of the company’s stock, valued at $21,574,411.59. The trade was a 7.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the transaction, the insider directly owned 93,927 shares in the company, valued at $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Ally Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Chung Wu Investment Group LLC boosted its position in shares of Ally Financial by 224.1% during the 3rd quarter. Chung Wu Investment Group LLC now owns 38,890 shares of the financial services provider’s stock worth $1,524,000 after purchasing an additional 26,890 shares in the last quarter. NewSquare Capital LLC boosted its position in shares of Ally Financial by 21,520.9% during the 3rd quarter. NewSquare Capital LLC now owns 27,891 shares of the financial services provider’s stock worth $1,093,000 after purchasing an additional 27,762 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ally Financial during the 3rd quarter worth $1,194,000. Prana Capital Management LP boosted its position in shares of Ally Financial by 177.3% during the 3rd quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider’s stock worth $7,007,000 after purchasing an additional 114,305 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Ally Financial by 7.5% during the 3rd quarter. Principal Financial Group Inc. now owns 674,471 shares of the financial services provider’s stock worth $26,439,000 after purchasing an additional 47,184 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

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.