BTIG Research Raises Ally Financial (NYSE:ALLY) Price Target to $39.00

Ally Financial (NYSE:ALLY) had its price objective lifted by BTIG Research to $39.00 in a research report released on Friday, The Fly reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other brokerages have also commented on ALLY. Zacks Investment Research lowered shares of EXACT Sciences from a hold rating to a sell rating in a research report on Tuesday, July 2nd. BMO Capital Markets set a $44.00 price objective on shares of Schlumberger and gave the company a hold rating in a research report on Monday, April 22nd. Citigroup set a $95.00 price objective on shares of iRobot and gave the company a hold rating in a research report on Wednesday, July 3rd. 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. Finally, Oppenheimer set a $119.00 price objective on shares of American Express and gave the company a buy rating in a research report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $34.42.

Shares of ALLY opened at $33.05 on Friday. The company’s 50-day moving average is $30.52. The firm has a market capitalization of $13.13 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 0.64 and a beta of 1.31. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.11 and a quick ratio of 1.11. Ally Financial has a 52 week low of $20.60 and a 52 week high of $33.92.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.09. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Ally Financial had a net margin of 26.59% and a return on equity of 11.09%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. Equities research analysts predict that Ally Financial will post 3.68 earnings per share for the current year.

Ally Financial declared that its board has initiated a stock buyback program on Monday, April 1st that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the financial services provider to buy up to 10.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared 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. This represents a $0.68 annualized dividend and a yield of 2.06%. The ex-dividend date is Wednesday, July 31st. Ally Financial’s dividend payout ratio (DPR) is presently 20.36%.

In other news, Director Mayree C. Clark acquired 5,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $29.71 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO David J. Debrunner sold 2,222 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $31.32, for a total transaction of $69,593.04. Following the sale, the chief accounting officer now directly owns 105,757 shares of the company’s stock, valued at approximately $3,312,309.24. The disclosure for this sale can be found here. Insiders sold 6,666 shares of company stock valued at $199,802 in the last three months. Company insiders own 0.35% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Ally Financial by 2.1% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 38,692 shares of the financial services provider’s stock worth $1,064,000 after buying an additional 809 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Ally Financial during the first quarter worth approximately $1,253,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Ally Financial by 2.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 424,005 shares of the financial services provider’s stock worth $11,477,000 after buying an additional 10,797 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Ally Financial by 30.8% during the first quarter. Toronto Dominion Bank now owns 74,377 shares of the financial services provider’s stock worth $2,044,000 after buying an additional 17,534 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Ally Financial by 47.8% during the fourth quarter. Millennium Management LLC now owns 1,149,888 shares of the financial services provider’s stock worth $26,056,000 after buying an additional 371,947 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

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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