Ally Financial (NYSE:ALLY) PT Raised to $34.00

Ally Financial (NYSE:ALLY) had its price objective increased by Nomura from $29.00 to $34.00 in a report published on Friday, BenzingaRatingsTable reports. They currently have a neutral rating on the financial services provider’s stock.

Several other analysts have also commented on ALLY. BMO Capital Markets set a $44.00 price target on Schlumberger and gave the company a hold rating in a research note on Monday, April 22nd. Oppenheimer set a $119.00 price objective on American Express and gave the stock a buy rating in a research note on Wednesday, April 17th. BTIG Research boosted their price objective on Ally Financial to $39.00 and gave the stock a buy rating in a research note on Friday. Citigroup set a $95.00 price objective on iRobot and gave the stock a hold rating in a research note on Wednesday, July 3rd. Finally, Zacks Investment Research lowered EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $34.42.

Shares of ALLY stock opened at $33.20 on Friday. The company has a fifty day moving average of $30.77. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.03. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 0.64 and a beta of 1.31. Ally Financial has a one year low of $20.60 and a one year high of $33.92.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. Ally Financial had a return on equity of 11.09% and a net margin of 26.59%. Ally Financial’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 EPS. As a group, research analysts anticipate that Ally Financial will post 3.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Wednesday, July 31st. Ally Financial’s dividend payout ratio is currently 20.36%.

Ally Financial declared that its board has approved a share repurchase program on Monday, April 1st that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 10.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $31.32, for a total value of $69,593.04. Following the transaction, the chief accounting officer now owns 105,757 shares of the company’s stock, valued at $3,312,309.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mayree C. Clark acquired 5,000 shares of Ally Financial stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $29.71 per share, for a total transaction of $148,550.00. Following the purchase, the director now owns 46,248 shares of the company’s stock, valued at approximately $1,374,028.08. The disclosure for this purchase can be found here. In the last three months, insiders sold 6,666 shares of company stock worth $199,802. Insiders own 0.35% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ALLY. Norges Bank acquired a new position in shares of Ally Financial during the fourth quarter valued at $109,098,000. Oaktree Capital Management LP lifted its stake in shares of Ally Financial by 34.6% during the fourth quarter. Oaktree Capital Management LP now owns 11,723,541 shares of the financial services provider’s stock valued at $265,655,000 after acquiring an additional 3,011,141 shares during the period. Magnolia Group LLC lifted its stake in shares of Ally Financial by 30.5% during the first quarter. Magnolia Group LLC now owns 5,626,671 shares of the financial services provider’s stock valued at $154,677,000 after acquiring an additional 1,315,199 shares during the period. FMR LLC lifted its stake in shares of Ally Financial by 129.3% during the first quarter. FMR LLC now owns 1,801,409 shares of the financial services provider’s stock valued at $49,521,000 after acquiring an additional 1,015,634 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Ally Financial by 699.1% during the first quarter. Bank of Montreal Can now owns 595,671 shares of the financial services provider’s stock valued at $16,375,000 after acquiring an additional 521,125 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Company Profile

Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

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Analyst Recommendations for Ally Financial (NYSE:ALLY)

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