Ally Financial (NYSE:ALLY) Price Target Raised to $48.00

Ally Financial (NYSE:ALLY) had its target price lifted by The Goldman Sachs Group from $42.00 to $48.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other research firms also recently issued reports on ALLY. Evercore ISI cut their price objective on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. Barclays lifted their price objective on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Truist Financial assumed 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. 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 report on Thursday. Finally, Wells Fargo & Company increased their target price on shares of Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ally Financial has a consensus rating of “Hold” and a consensus target price of $43.47.

Ally Financial Stock Performance

Shares of NYSE:ALLY opened at $39.03 on Thursday. The firm has a 50 day moving average of $37.06 and a 200 day moving average of $37.94. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. Ally Financial has a 52 week low of $31.95 and a 52 week high of $45.46.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2,021,808.41 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. On average, sell-side analysts predict that Ally Financial will post 3.91 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.30 per share. The ex-dividend date is Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.07%. Ally Financial’s payout ratio is 46.15%.

Institutional Investors Weigh In On Ally Financial

Several hedge funds and other institutional investors have recently bought and sold shares of ALLY. Envestnet Asset Management Inc. lifted its stake in shares of Ally Financial by 36.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 81,592 shares of the financial services provider’s stock valued at $3,237,000 after purchasing an additional 21,622 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Ally Financial by 86.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,527 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 1,632 shares during the last quarter. Xponance Inc. raised its stake in shares of Ally Financial by 1.4% in the 2nd quarter. Xponance Inc. now owns 45,505 shares of the financial services provider’s stock valued at $1,805,000 after acquiring an additional 640 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Ally Financial by 63.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 52,423 shares of the financial services provider’s stock worth $2,080,000 after acquiring an additional 20,261 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in shares of Ally Financial during the 2nd quarter worth approximately $760,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

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.