Ally Financial (NYSE:ALLY) Given "Outperform" Rating at Royal Bank of Canada

Ally Financial (NYSE:ALLY - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $40.00 price objective on the financial services provider's stock. Royal Bank of Canada's price objective would indicate a potential upside of 21.40% from the stock's previous close.

A number of other research firms have also weighed in on ALLY. Wells Fargo & Company dropped their price target on shares of Ally Financial from $34.00 to $32.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group upped their target price on shares of Ally Financial from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Barclays raised their price target on Ally Financial from $36.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. StockNews.com downgraded Ally Financial from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, Compass Point upgraded Ally Financial from a "neutral" rating to a "buy" rating and increased their target price for the stock from $37.00 to $41.00 in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Ally Financial currently has a consensus rating of "Hold" and an average target price of $41.69.

Ally Financial Stock Performance

Ally Financial stock traded down $0.24 during trading on Monday, reaching $32.95. The company had a trading volume of 4,237,971 shares, compared to its average volume of 3,537,580. The firm's 50-day simple moving average is $34.52 and its 200 day simple moving average is $36.08. Ally Financial has a 52 week low of $29.52 and a 52 week high of $45.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.43 by $0.15. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $2.04 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. During the same quarter last year, the company earned $0.45 earnings per share. Sell-side analysts forecast that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael George Rhodes purchased 25,634 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was purchased at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the purchase, the chief executive officer now owns 25,634 shares in the company, valued at approximately $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Russell E. Hutchinson acquired 8,200 shares of Ally Financial stock in a transaction that occurred on Tuesday, April 22nd. The stock was purchased at an average cost of $30.81 per share, for a total transaction of $252,642.00. Following the completion of the transaction, the chief financial officer now directly owns 236,421 shares in the company, valued at $7,284,131.01. This trade represents a 3.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ally Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Copia Wealth Management bought a new position in Ally Financial in the 1st quarter valued at $27,000. Bessemer Group Inc. boosted its stake in shares of Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 377 shares during the period. Principal Securities Inc. grew its holdings in shares of Ally Financial by 89.4% in the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider's stock worth $38,000 after purchasing an additional 496 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Ally Financial in the fourth quarter worth about $43,000. Finally, UMB Bank n.a. increased its stake in Ally Financial by 218.8% in the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider's stock worth $56,000 after buying an additional 1,061 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

About Ally Financial

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.