Ally Financial (NYSE:ALLY) Stock Price Expected to Rise, Barclays Analyst Says

Ally Financial (NYSE:ALLY) had its target price upped by equities research analysts at Barclays from $54.00 to $56.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target suggests a potential upside of 21.82% from the stock’s current price.

ALLY has been the subject of a number of other reports. BTIG Research reissued a “neutral” rating on shares of Ally Financial in a research note on Tuesday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. TD Cowen reiterated a “buy” rating on shares of Ally Financial in a research report on Thursday, January 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $56.00 price target on shares of Ally Financial in a research note on Monday. Finally, UBS Group set a $48.00 price target on Ally Financial in a research report on Monday, January 12th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

Ally Financial Trading Up 1.3%

Shares of ALLY traded up $0.61 during trading hours on Monday, hitting $45.97. 149,361 shares of the stock traded hands, compared to its average volume of 3,787,785. The business has a fifty day moving average of $40.03 and a 200-day moving average of $41.30. The firm has a market capitalization of $14.16 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 0.23 and a beta of 1.14. Ally Financial has a 1-year low of $29.91 and a 1-year high of $47.27. 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 announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the business posted $0.58 EPS. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. Analysts expect that Ally Financial will post 3.57 EPS for the current year.

Insider Activity

In other news, CFO Russell E. Hutchinson bought 11,566 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was acquired at an average cost of $43.17 per share, with a total value of $499,304.22. Following the completion of the purchase, the chief financial officer owned 225,336 shares of the company’s stock, valued at $9,727,755.12. This represents a 5.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael George Rhodes bought 23,800 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average price of $41.68 per share, for a total transaction of $991,984.00. Following the completion of the acquisition, the chief executive officer owned 49,434 shares of the company’s stock, valued at $2,060,409.12. The trade was a 92.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Chung Wu Investment Group LLC raised its stake in Ally Financial by 224.1% in the third quarter. Chung Wu Investment Group LLC now owns 38,890 shares of the financial services provider’s stock valued at $1,524,000 after buying an additional 26,890 shares during the period. NewSquare Capital LLC increased its holdings 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 acquiring an additional 27,762 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Ally Financial in the 3rd quarter valued at $1,194,000. Principal Financial Group Inc. raised its stake in Ally Financial by 7.5% in the 3rd quarter. Principal Financial Group Inc. now owns 674,471 shares of the financial services provider’s stock valued at $26,439,000 after acquiring an additional 47,184 shares during the period. Finally, Prana Capital Management LP lifted its holdings in 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 valued at $7,007,000 after purchasing an additional 114,305 shares during 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.