Ally Financial (NYSE:ALLY) Earns “Outperform” Rating from Royal Bank of Canada

Ally Financial (NYSE:ALLY)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They presently have a $40.00 price target on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 33.20% from the stock’s previous close.

ALLY has been the subject of several other research reports. JPMorgan Chase & Co. cut their price target on Ally Financial from $43.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Bank of America dropped their price target on shares of Ally Financial from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. The Goldman Sachs Group boosted their target price on shares of Ally Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Jefferies Financial Group raised their price target on Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Finally, StockNews.com lowered Ally Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $41.94.

Ally Financial Stock Performance

NYSE:ALLY traded down $1.60 during trading on Monday, reaching $30.03. The company’s stock had a trading volume of 1,962,813 shares, compared to its average volume of 4,316,272. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12. Ally Financial has a 12 month low of $29.52 and a 12 month high of $45.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50 day moving average of $35.14 and a 200-day moving average of $36.20.

Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.15. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. During the same period in the previous year, the company earned $0.45 earnings per share. Research analysts expect that Ally Financial will post 3.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Russell E. Hutchinson acquired 19,100 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were purchased at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the completion of the acquisition, the chief financial officer now owns 202,845 shares in the company, valued at approximately $8,002,235.25. This represents a 10.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael George Rhodes bought 25,634 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average price of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the acquisition, the chief executive officer now directly owns 25,634 shares in the company, valued at $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Copia Wealth Management bought a new stake in Ally Financial in the 1st quarter worth $27,000. Principal Securities Inc. raised its position in Ally Financial by 89.4% during the 4th quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 496 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Ally Financial in the 4th quarter worth approximately $43,000. UMB Bank n.a. grew its position in shares of Ally Financial by 218.8% in the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock worth $56,000 after buying an additional 1,061 shares during the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of Ally Financial by 38.5% during the fourth quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 595 shares in the last quarter. Institutional investors 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.