Ally Financial (NYSE:ALLY) Reaches New 52-Week High – What’s Next?

Ally Financial Inc. (NYSE:ALLY) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $47.28 and last traded at $46.7950, with a volume of 596 shares changing hands. The stock had previously closed at $47.17.

Wall Street Analysts Forecast Growth

ALLY has been the topic of several research analyst reports. Truist Financial set a $54.00 target price on shares of Ally Financial in a report on Tuesday, April 21st. Bank of America raised their target price on shares of Ally Financial from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Wall Street Zen downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings upgraded shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ally Financial currently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Ally Financial Stock Down 2.7%

The firm has a market capitalization of $14.09 billion, a PE ratio of 11.21, a PEG ratio of 0.29 and a beta of 1.10. The business’s 50 day simple moving average is $43.84 and its 200 day simple moving average is $42.65. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.31.

Ally Financial (NYSE:ALLY) last posted its earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. During the same period in the previous year, the firm posted $0.58 EPS. The business’s quarterly revenue was up 36.4% on a year-over-year basis. On average, equities research analysts forecast that Ally Financial Inc. will post 5.26 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, May 1st. Ally Financial’s payout ratio is presently 29.27%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Ally Financial

Several hedge funds and other institutional investors have recently made changes to their positions in ALLY. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Ally Financial during the 4th quarter worth about $29,000. Fideuram Asset Management Ireland dac purchased a new stake in Ally Financial in the 4th quarter worth about $35,000. Safe Harbor Fiduciary LLC bought a new stake in Ally Financial in the fourth quarter worth about $37,000. Harvest Fund Management Co. Ltd bought a new stake in Ally Financial in the fourth quarter worth about $38,000. Finally, SJS Investment Consulting Inc. boosted its position in shares of Ally Financial by 30.8% during the first quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock valued at $40,000 after buying an additional 240 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Company Profile

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.