Ally Financial (NYSE:ALLY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Ally Financial (NYSE:ALLY) had its target price increased by analysts at JPMorgan Chase & Co. from $40.00 to $43.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.19% from the company’s previous close.

A number of other research firms have also weighed in on ALLY. Truist Financial started coverage on shares of Ally Financial in a research note on Tuesday, January 7th. They issued a “buy” rating and a $42.00 target price on the stock. Wells Fargo & Company lifted their price objective on Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Thursday. Keefe, Bruyette & Woods upped their target price on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group raised their target price on Ally Financial from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Ally Financial presently has an average 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 company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.92. Ally Financial has a 1 year low of $31.95 and a 1 year high of $45.46. The firm has a market capitalization of $11.89 billion, a PE ratio of 15.01, a P/E/G ratio of 0.42 and a beta of 1.44. The business’s 50 day moving average price is $37.00 and its 200-day moving average price is $37.95.

Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2,021,808.41 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, equities research analysts expect that Ally Financial will post 3.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Ally Financial by 0.5% in the third quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock valued at $380,981,000 after buying an additional 51,426 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Ally Financial by 233.4% during the 4th 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 acquiring an additional 1,701,264 shares during the period. Jacobs Levy Equity Management Inc. grew its position in 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 acquiring an additional 1,563,008 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ally Financial by 19.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,106,589 shares of the financial services provider’s stock worth $74,974,000 after purchasing an additional 344,543 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Ally Financial by 4.7% during the third quarter. Jennison Associates LLC now owns 1,672,812 shares of the financial services provider’s stock worth $59,535,000 after purchasing an additional 75,080 shares in the last quarter. 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.