Ally Financial (NYSE:ALLY) Price Target Raised to $42.00

Ally Financial (NYSE:ALLY) had its price target increased by Morgan Stanley from $41.00 to $42.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also weighed in on ALLY. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of Ally Financial in a research report on Monday, October 21st. Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a research note on Monday, October 21st. BTIG Research downgraded Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. TD Cowen reduced their price objective on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Finally, Barclays dropped their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.14.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $34.86 on Thursday. The business has a 50-day moving average of $36.69 and a two-hundred day moving average of $38.48. 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 fifty-two week low of $31.77 and a fifty-two week high of $45.46. The stock has a market capitalization of $10.62 billion, a P/E ratio of 13.94, a P/E/G ratio of 0.46 and a beta of 1.42.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Ally Financial will post 3 EPS for the current fiscal 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 paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio is 48.00%.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after buying an additional 526 shares during the last quarter. Venturi Wealth Management LLC grew its position in Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 577 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Ally Financial during the 2nd quarter valued at $41,000. Allworth Financial LP raised its position in Ally Financial by 41.9% in the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 421 shares during the last quarter. Finally, Quarry LP boosted its stake in Ally Financial by 311.4% in the second quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,143 shares in the last quarter. 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.