Ally Financial (NYSE:ALLY) Reaches New 1-Year Low – Here’s Why

Ally Financial Inc. (NYSE:ALLY) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $29.52 and last traded at $33.77, with a volume of 7773819 shares trading hands. The stock had previously closed at $30.57.

Analysts Set New Price Targets

A number of analysts have weighed in on ALLY shares. Barclays upped their target price on Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Bank of America lowered their target price on Ally Financial from $42.00 to $38.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company upped their target price on Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on Ally Financial from $43.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Truist Financial lowered their target price on Ally Financial from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.41.

Ally Financial Trading Up 10.5 %

The company has a market cap of $10.37 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12. The business has a 50 day simple moving average of $36.00 and a two-hundred day simple moving average of $36.32. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the firm posted $0.45 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.55%. Ally Financial’s payout ratio is 46.15%.

Insider Transactions at Ally Financial

In other news, CEO Michael George Rhodes purchased 25,634 shares of the company’s stock in a transaction on Monday, January 27th. The shares were bought at an average price of $39.09 per share, for a total transaction of $1,002,033.06. Following the completion of the purchase, the chief executive officer now owns 25,634 shares of the company’s stock, valued at $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Russell E. Hutchinson acquired 19,100 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were bought at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the purchase, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at approximately $8,002,235.25. This trade represents a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Ally Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLY. Norges Bank acquired a new stake in shares of Ally Financial during the 4th quarter valued at $75,483,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Ally Financial by 84.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider’s stock valued at $151,320,000 after buying an additional 1,918,965 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Ally Financial by 233.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock valued at $87,509,000 after buying an additional 1,701,264 shares during the period. Phoenix Financial Ltd. boosted its stake in shares of Ally Financial by 86.4% during the 4th quarter. Phoenix Financial Ltd. now owns 3,390,066 shares of the financial services provider’s stock valued at $122,077,000 after buying an additional 1,571,027 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Ally Financial by 6,226.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,368,654 shares of the financial services provider’s stock valued at $49,285,000 after buying an additional 1,347,020 shares during the period. Institutional investors and hedge funds 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.