Citigroup Increases Ally Financial (NYSE:ALLY) Price Target to $39.00

Ally Financial (NYSE:ALLY) had its price objective upped by Citigroup from $37.00 to $39.00 in a report issued on Monday morning, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the company. Zacks Investment Research downgraded Ally Financial from a buy rating to a hold rating and set a $33.00 target price for the company. in a research note on Tuesday, July 2nd. BTIG Research lifted their target price on Ally Financial to $39.00 and gave the company a buy rating in a research note on Friday, July 19th. Stephens upgraded Ally Financial from an equal rating to a weight rating and lifted their target price for the company from $37.00 to $44.00 in a research note on Monday. Wells Fargo & Co restated a buy rating on shares of Ally Financial in a research note on Sunday, July 21st. Finally, Nomura lifted their target price on Ally Financial from $29.00 to $34.00 and gave the company a neutral rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Ally Financial has a consensus rating of Buy and an average target price of $37.00.

NYSE:ALLY opened at $35.05 on Monday. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 0.68 and a beta of 1.31. Ally Financial has a one year low of $20.60 and a one year high of $35.40. The stock has a 50-day simple moving average of $31.88 and a 200 day simple moving average of $29.90. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.07 and a current ratio of 1.07.



Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.09. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. Ally Financial had a return on equity of 10.89% and a net margin of 26.59%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. On average, equities research analysts forecast that Ally Financial will post 3.74 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.68 dividend on an annualized basis and a yield of 1.94%. Ally Financial’s payout ratio is currently 20.36%.

In other news, CAO David J. Debrunner sold 2,222 shares of Ally Financial stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $31.14, for a total transaction of $69,193.08. Following the sale, the chief accounting officer now owns 101,313 shares of the company’s stock, valued at $3,154,886.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Diane E. Morais sold 15,000 shares of Ally Financial stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $33.35, for a total value of $500,250.00. Following the sale, the insider now directly owns 220,048 shares in the company, valued at approximately $7,338,600.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,666 shares of company stock valued at $712,118. 0.35% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. bought a new stake in shares of Ally Financial during the second quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Ally Financial during the second quarter valued at approximately $49,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Ally Financial by 102.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,242 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,132 shares during the last quarter. SG3 Management LLC bought a new stake in shares of Ally Financial during the second quarter valued at approximately $73,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of Ally Financial during the second quarter valued at approximately $96,000. 95.50% of the stock is currently owned by institutional investors.

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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