Ally Financial (NYSE:ALLY) Hits New 52-Week Low on Analyst Downgrade

Shares of Ally Financial Inc. (NYSE:ALLY) hit a new 52-week low during trading on Friday after Truist Financial lowered their price target on the stock from $47.00 to $45.00. Truist Financial currently has a buy rating on the stock. Ally Financial traded as low as $30.76 and last traded at $30.54, with a volume of 3073967 shares traded. The stock had previously closed at $33.00.

Several other research analysts have also recently issued reports on ALLY. Royal Bank of Canada upped their price objective on Ally Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their target price on Ally Financial from $44.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group increased their price target on shares of Ally Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Morgan Stanley lifted their price target on shares of Ally Financial from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.53.

Insider Transactions at Ally Financial

In other news, CEO Michael George Rhodes purchased 25,634 shares of the stock in a transaction dated Monday, January 27th. The stock was acquired at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the acquisition, the chief executive officer now owns 25,634 shares of the company’s stock, valued at $1,002,033.06. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Russell E. Hutchinson acquired 19,100 shares of Ally Financial stock in a transaction that occurred on 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 purchase, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at $8,002,235.25. The trade was a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Ally Financial

A number of institutional investors have recently modified their holdings of the business. Principal Securities Inc. boosted its stake in Ally Financial by 89.4% in the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 496 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Ally Financial in the 4th quarter worth approximately $43,000. UMB Bank n.a. boosted its position in Ally Financial by 218.8% during the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,061 shares during the period. Harbour Investments Inc. grew its stake in Ally Financial by 38.5% during the 4th quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider’s stock worth $77,000 after buying an additional 595 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Ally Financial in the fourth quarter worth $78,000. Institutional investors own 88.76% of the company’s stock.

Ally Financial Price Performance

The company has a market capitalization of $9.88 billion, a P/E ratio of 12.37, a PEG ratio of 0.32 and a beta of 1.12. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.51. The business has a 50 day simple moving average of $36.72 and a 200-day simple moving average of $36.42.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.21. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the firm posted $0.45 EPS. Ally Financial’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts predict that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Friday, January 31st. Ally Financial’s dividend payout ratio (DPR) is 46.15%.

Ally Financial Company Profile

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.