Ally Financial (NYSE:ALLY) had its price target lifted by BTIG Research to $39.00 in a research note issued to investors on Friday morning, The Fly reports. They currently have a buy rating on the financial services provider’s stock.
ALLY has been the topic of several other reports. Oppenheimer set a $119.00 target price on shares of American Express and gave the stock a buy rating in a research report on Wednesday, April 17th. Morgan Stanley lowered shares of Silicon Motion Technology from an equal weight rating to an underweight rating in a research report on Monday, April 22nd. Zacks Investment Research lowered shares of EXACT Sciences from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Citigroup set a $95.00 price objective on shares of iRobot and gave the stock a hold rating in a research report on Wednesday, July 3rd. Finally, BMO Capital Markets set a $44.00 price objective on shares of Schlumberger and gave the stock a hold rating in a research report on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Ally Financial has a consensus rating of Buy and a consensus target price of $34.42.
Shares of NYSE ALLY opened at $33.20 on Friday. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 9.94, a P/E/G 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. The stock’s fifty day moving average is $30.77. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.03.
Ally Financial announced that its board has approved a stock 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 repurchase up to 10.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a $0.17 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.05%. Ally Financial’s dividend payout ratio is presently 20.36%.
In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $29.80, for a total value of $66,215.60. Following the transaction, the chief accounting officer now directly owns 110,201 shares in the company, valued at approximately $3,283,989.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mayree C. Clark bought 5,000 shares of Ally Financial stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $29.71 per share, for a total transaction of $148,550.00. Following the completion of the acquisition, the director now owns 46,248 shares in the company, valued at approximately $1,374,028.08. The disclosure for this purchase can be found here. Insiders sold a total of 6,666 shares of company stock worth $199,802 over the last quarter. Insiders own 0.35% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Nissay Asset Management Corp Japan ADV lifted its holdings in Ally Financial by 2.1% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 38,692 shares of the financial services provider’s stock valued at $1,064,000 after purchasing an additional 809 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in Ally Financial in the 1st quarter valued at about $1,253,000. DekaBank Deutsche Girozentrale lifted its holdings in Ally Financial by 2.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 424,005 shares of the financial services provider’s stock valued at $11,477,000 after purchasing an additional 10,797 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Ally Financial by 30.8% in the 1st quarter. Toronto Dominion Bank now owns 74,377 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 17,534 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Ally Financial by 47.8% in the 4th quarter. Millennium Management LLC now owns 1,149,888 shares of the financial services provider’s stock valued at $26,056,000 after purchasing an additional 371,947 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.
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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