Ally Financial (NYSE:ALLY) Price Target Raised to $56.00

by · The Markets Daily

Ally Financial (NYSE:ALLY – Free Report) had its price target boosted by Keefe, Bruyette & Woods from $44.00 to $56.00 in a research report released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

ALLY has been the subject of a number of other reports. JPMorgan Chase & Co. raised shares of Ally Financial from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $46.00 to $40.00 in a report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of Ally Financial in a report on Monday, October 21st. Bank of America lowered their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Barclays lowered their price objective on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, September 12th. Finally, StockNews.com upgraded Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.73.

View Our Latest Stock Report on Ally Financial

Ally Financial Price Performance

Ally Financial stock opened at $38.42 on Monday. The stock has a market capitalization of $11.71 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.46 and a beta of 1.42. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial has a 12 month low of $29.68 and a 12 month high of $45.46. The business has a 50 day simple moving average of $36.54 and a 200-day simple moving average of $38.59.

Ally Financial (NYSE:ALLY – Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts predict that Ally Financial will post 3 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 annualized dividend and a yield of 3.12%. Ally Financial’s dividend payout ratio is currently 48.00%.

Hedge Funds Weigh In On Ally Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. boosted its holdings in Ally Financial by 217.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock valued at $81,260,000 after purchasing an additional 1,563,008 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of Ally Financial by 584.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock valued at $49,659,000 after purchasing an additional 1,191,529 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ally Financial by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after buying an additional 987,489 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Ally Financial by 2,088.2% during the third quarter. Assenagon Asset Management S.A. now owns 728,864 shares of the financial services provider’s stock worth $25,940,000 after buying an additional 695,555 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Ally Financial in the third quarter worth $21,571,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

About Ally Financial

(Get Free Report)

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.

Read More