Ally Financial (NYSE:ALLY) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Ally Financial (NYSE:ALLY) had its target price increased by stock analysts at Royal Bank Of Canada from $52.00 to $55.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 20.32% from the stock’s current price.

A number of other equities analysts also recently commented on the company. The Goldman Sachs Group boosted their price objective on Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Barclays lifted their price target on shares of Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Evercore reiterated an “outperform” rating and set a $54.00 price target on shares of Ally Financial in a report on Tuesday, April 21st. Truist Financial set a $54.00 price objective on shares of Ally Financial in a research report on Tuesday, April 21st. Finally, Bank of America raised their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Ally Financial presently has an average rating of “Moderate Buy” and a consensus target price of $53.79.

Ally Financial Stock Performance

NYSE:ALLY opened at $45.71 on Friday. The company has a fifty day simple moving average of $43.88 and a two-hundred day simple moving average of $42.66. The company has a market cap of $14.01 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.27 and a beta of 1.09. 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 has a 52 week low of $35.92 and a 52 week high of $47.29.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, equities analysts anticipate that Ally Financial will post 5.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, insider Douglas R. Timmerman sold 39,675 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 477,627 shares of the company’s stock, valued at approximately $21,574,411.59. This trade represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the sale, the insider owned 93,927 shares in the company, valued at $3,958,083.78. This trade represents a 5.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ally Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oliver Luxxe Assets LLC lifted its holdings in shares of Ally Financial by 36.6% during the second quarter. Oliver Luxxe Assets LLC now owns 11,639 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 3,121 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Ally Financial by 75.6% in the second quarter. Assenagon Asset Management S.A. now owns 895,286 shares of the financial services provider’s stock valued at $41,138,000 after purchasing an additional 385,311 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Ally Financial by 16.2% in the second quarter. GAMMA Investing LLC now owns 12,097 shares of the financial services provider’s stock valued at $556,000 after purchasing an additional 1,690 shares during the last quarter. Versant Capital Management Inc lifted its stake in Ally Financial by 17.5% in the 2nd quarter. Versant Capital Management Inc now owns 6,869 shares of the financial services provider’s stock valued at $316,000 after buying an additional 1,023 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in Ally Financial by 88.4% during the 1st quarter. Glenmede Trust Co. NA now owns 51,806 shares of the financial services provider’s stock valued at $2,032,000 after buying an additional 24,302 shares during the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

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.