Ally Financial (NYSE:ALLY) Price Target Raised to $43.00

Ally Financial (NYSE:ALLY) had its target price increased by JPMorgan Chase & Co. from $40.00 to $43.00 in a report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. Jefferies Financial Group upped their price objective on Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their price objective on shares of Ally Financial from $44.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wolfe Research cut shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Truist Financial began coverage on Ally Financial in a research report on Tuesday, January 7th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Morgan Stanley raised their price objective on Ally Financial from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $43.47.

Ally Financial Stock Up 1.2 %

Shares of Ally Financial stock opened at $40.12 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.40 and a beta of 1.44. The firm’s 50-day moving average is $36.92 and its two-hundred day moving average is $37.93. Ally Financial has a 1 year low of $31.95 and a 1 year high of $45.46.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2,021,808.41 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. As a group, research analysts expect that Ally Financial will post 2.96 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.30 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.20 annualized dividend and a yield of 2.99%. Ally Financial’s dividend payout ratio is presently 48.00%.

Hedge Funds Weigh In On Ally Financial

Institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Ally Financial by 233.4% during the fourth 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. Jacobs Levy Equity Management Inc. increased its stake in shares of Ally Financial by 217.0% in the 3rd 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 in the last quarter. Wedge Capital Management L L P NC raised its holdings in 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 worth $49,659,000 after purchasing an additional 1,191,529 shares during the period. Point72 Asset Management L.P. purchased a new position in Ally Financial during the third quarter worth approximately $21,571,000. Finally, 140 Summer Partners LP acquired a new stake in Ally Financial in the third quarter valued at approximately $19,140,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

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.