Wells Fargo & Company Cuts Ally Financial (NYSE:ALLY) Price Target to $32.00

Ally Financial (NYSE:ALLY - Free Report) had its price objective lowered by Wells Fargo & Company from $34.00 to $32.00 in a report published on Monday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider's stock.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Ally Financial from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Compass Point upgraded Ally Financial from a "neutral" rating to a "buy" rating and upped their target price for the company from $37.00 to $41.00 in a research report on Monday, April 7th. Barclays raised their price target on Ally Financial from $36.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Bank of America decreased their target price on shares of Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, StockNews.com cut shares of Ally Financial from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $41.69.

Ally Financial Stock Down 0.7 %

Shares of NYSE:ALLY traded down $0.24 during midday trading on Monday, reaching $32.95. 4,237,971 shares of the company were exchanged, compared to its average volume of 3,532,021. The stock has a fifty day simple moving average of $34.52 and a two-hundred day simple moving average of $36.08. 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 firm has a market cap of $10.12 billion, a PE ratio of 12.67, a P/E/G ratio of 0.32 and a beta of 1.12. Ally Financial has a fifty-two week low of $29.52 and a fifty-two week high of $45.46.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 in the prior year, the company earned $0.45 earnings per share. As a group, sell-side analysts forecast that Ally Financial will post 3.57 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.64%. The ex-dividend date is Thursday, May 1st. Ally Financial's dividend payout ratio is currently 88.24%.

Insiders Place Their Bets

In related news, CEO Michael George Rhodes purchased 25,634 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average cost of $39.09 per share, with a total value 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. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Russell E. Hutchinson purchased 8,200 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were purchased at an average cost of $30.81 per share, for a total transaction of $252,642.00. Following the transaction, the chief financial officer now directly owns 236,421 shares in the company, valued at approximately $7,284,131.01. The trade was a 3.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company's stock.

Institutional Trading of Ally Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV raised its position in Ally Financial by 2.1% during the first quarter. KBC Group NV now owns 594,081 shares of the financial services provider's stock valued at $21,666,000 after purchasing an additional 12,039 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Ally Financial by 7.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 649,832 shares of the financial services provider's stock worth $23,699,000 after purchasing an additional 46,707 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Ally Financial during the 1st quarter worth approximately $1,998,000. Total Wealth Planning & Management Inc. lifted its position in Ally Financial by 13.0% during the first quarter. Total Wealth Planning & Management Inc. now owns 11,847 shares of the financial services provider's stock valued at $432,000 after buying an additional 1,361 shares during the period. Finally, Bessemer Group Inc. lifted its holdings 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 last quarter. Institutional investors own 88.76% of the company's stock.

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.