Citigroup set a $39.00 target price on Ally Financial (NYSE:ALLY) in a research note released on Friday morning, TipRanks reports. The firm currently has a buy rating on the financial services provider’s stock.
ALLY has been the subject of several other reports. Nomura lifted their target price on Ally Financial from $29.00 to $34.00 and gave the stock a neutral rating in a research note on Friday. Zacks Investment Research downgraded EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Oppenheimer set a $119.00 target price on American Express and gave the stock a buy rating in a research note on Wednesday, April 17th. Morgan Stanley downgraded Silicon Motion Technology from an equal weight rating to an underweight rating in a research note on Monday, April 22nd. Finally, BMO Capital Markets set a $44.00 target price on Schlumberger and gave the stock a hold rating in a research note on Monday, April 22nd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $34.75.
ALLY stock traded up $0.51 during mid-day trading on Friday, reaching $33.71. The company had a trading volume of 2,367,164 shares, compared to its average volume of 3,427,593. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s 50 day moving average is $30.77. The company has a market capitalization of $13.31 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 0.64 and a beta of 1.31. Ally Financial has a 52 week low of $20.60 and a 52 week high of $33.92.
Ally Financial (NYSE:ALLY) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. Ally Financial had a return on equity of 11.09% and a net margin of 26.59%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts expect that Ally Financial will post 3.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.68 annualized dividend and a yield of 2.02%. Ally Financial’s payout ratio is currently 20.36%.
Ally Financial announced that its board has authorized a stock buyback program on Monday, April 1st that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the financial services provider to purchase up to 10.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, Director Mayree C. Clark acquired 5,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $29.71 per share, with a total value of $148,550.00. Following the acquisition, the director now directly owns 46,248 shares of the company’s stock, valued at $1,374,028.08. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO David J. Debrunner sold 2,222 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.80, for a total value of $63,993.60. Following the transaction, the chief accounting officer now directly owns 107,979 shares of the company’s stock, valued at approximately $3,109,795.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,666 shares of company stock valued at $700,052. 0.35% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Ally Financial during the 1st quarter worth $31,000. Carroll Financial Associates Inc. acquired a new position in shares of Ally Financial in the 2nd quarter valued at about $40,000. Truvestments Capital LLC acquired a new position in shares of Ally Financial in the 1st quarter valued at about $74,000. Private Capital Group LLC lifted its stake in shares of Ally Financial by 69.8% in the 1st quarter. Private Capital Group LLC now owns 3,090 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 1,270 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Ally Financial in the 2nd quarter valued at about $220,000. Institutional investors and hedge funds own 97.03% of the company’s stock.
About Ally Financial
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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