Ally Financial (NYSE:ALLY) Lowered to Sell Rating by BTIG Research

Ally Financial (NYSE:ALLY) was downgraded by equities research analysts at BTIG Research from a “neutral” rating to a “sell” rating in a research report issued on Tuesday, MarketBeat reports. They currently have a $30.00 target price on the financial services provider’s stock. BTIG Research’s price objective indicates a potential downside of 18.46% from the company’s current price.

Several other research firms also recently issued reports on ALLY. Wells Fargo & Company upped their price objective on shares of Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Thursday, January 23rd. Truist Financial upped their price target on shares of Ally Financial from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Barclays lifted their price objective on Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Royal Bank of Canada boosted their price objective on Ally Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley raised their target price on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Ally Financial has an average rating of “Hold” and an average price target of $42.53.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $36.79 on Tuesday. The stock has a market capitalization of $11.30 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.32 and a beta of 1.40. The business has a 50-day moving average of $37.08 and a two-hundred day moving average of $36.33. Ally Financial has a fifty-two week low of $31.95 and a fifty-two week high of $45.46. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93.

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

Insider Activity

In related news, CFO Russell E. Hutchinson bought 19,100 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the transaction, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at $8,002,235.25. This represents a 10.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael George Rhodes purchased 25,634 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was bought at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the purchase, the chief executive officer now owns 25,634 shares in the company, valued at $1,002,033.06. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds have recently made changes to their positions in ALLY. Pathstone Holdings LLC increased its holdings in shares of Ally Financial by 127.0% during the third quarter. Pathstone Holdings LLC now owns 59,741 shares of the financial services provider’s stock worth $2,126,000 after buying an additional 33,420 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Ally Financial by 1.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 32,174 shares of the financial services provider’s stock worth $1,145,000 after acquiring an additional 598 shares during the last quarter. Intech Investment Management LLC increased its holdings in Ally Financial by 50.8% during the 3rd quarter. Intech Investment Management LLC now owns 16,001 shares of the financial services provider’s stock valued at $569,000 after purchasing an additional 5,387 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in Ally Financial in the 3rd quarter valued at $250,000. Finally, Citigroup Inc. boosted its stake in Ally Financial by 22.3% in the third quarter. Citigroup Inc. now owns 242,602 shares of the financial services provider’s stock worth $8,634,000 after purchasing an additional 44,314 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

About Ally Financial

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.