Ally Financial (NYSE:ALLY) Receives Buy Rating from Citigroup

Ally Financial (NYSE:ALLY - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Citigroup in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They currently have a $59.00 price target on the financial services provider's stock, up from their prior price target of $55.00. Citigroup's target price would suggest a potential upside of 43.20% from the stock's current price.

A number of other equities research analysts have also commented on ALLY. Truist Financial increased their price target on Ally Financial from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. 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 report on Monday, April 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Ally Financial in a research note on Monday, April 21st. 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. Finally, Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned 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 $41.60.

Ally Financial Price Performance

ALLY stock traded up $0.30 during trading on Wednesday, hitting $41.20. The company had a trading volume of 1,977,534 shares, compared to its average volume of 3,778,826. Ally Financial has a fifty-two week low of $29.52 and a fifty-two week high of $45.46. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.38. The company has a fifty day moving average price of $35.59 and a two-hundred day moving average price of $35.74. The company has a market cap of $12.66 billion, a P/E ratio of 30.29, a P/E/G ratio of 0.38 and a beta of 1.15.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.15. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $2.04 billion. Ally Financial had a net margin of 6.96% and a return on equity of 9.53%. During the same period last year, the firm posted $0.45 EPS. Equities research analysts expect that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Insider Activity at Ally Financial

In other news, insider Stephanie N. Richard sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total value of $257,120.00. Following the completion of the transaction, the insider owned 90,387 shares in the company, valued at $2,905,038.18. This represents a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Russell E. Hutchinson acquired 8,200 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were bought at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the completion of the acquisition, the chief financial officer owned 236,421 shares of the company's stock, 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 owned by company insiders.

Hedge Funds Weigh In On Ally Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Ally Financial by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 28,252,149 shares of the financial services provider's stock valued at $1,017,360,000 after purchasing an additional 111,231 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ally Financial by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,797,505 shares of the financial services provider's stock worth $320,855,000 after purchasing an additional 134,113 shares in the last quarter. Wellington Management Group LLP acquired a new position in Ally Financial during the first quarter worth $253,881,000. Geode Capital Management LLC grew its position in Ally Financial by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 4,895,467 shares of the financial services provider's stock valued at $175,990,000 after purchasing an additional 184,278 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Ally Financial by 10.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,658,877 shares of the financial services provider's stock valued at $169,909,000 after buying an additional 456,698 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

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.