The Goldman Sachs Group Issues Positive Forecast for Ally Financial (NYSE:ALLY) Stock Price

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

ALLY has been the topic of a number of other research reports. Barclays raised their target price on shares of Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Jefferies Financial Group raised their price target on Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Ally Financial in a research note on Monday, October 21st. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Finally, Evercore ISI dropped their price target on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.47.

Ally Financial Stock Performance

NYSE:ALLY opened at $40.12 on Thursday. The firm has a 50-day moving average price of $36.92 and a two-hundred day moving average price of $37.93. The company has a market capitalization of $12.22 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44. Ally Financial has a twelve month low of $31.95 and a twelve month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last posted its earnings results 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 analyst estimates of $2,021,808.41 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. Ally Financial’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, research analysts expect that Ally Financial will post 2.96 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

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

Institutional Trading of Ally Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc increased its position in shares of Ally Financial by 1.9% during the 3rd quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 293 shares during the period. Maverick Capital Ltd. grew its holdings in Ally Financial by 1.2% during the third quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider’s stock worth $930,000 after acquiring an additional 299 shares during the period. Blue Trust Inc. lifted its holdings in Ally Financial by 8.2% in the 3rd quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 352 shares during the last quarter. Allworth Financial LP boosted its position in shares of Ally Financial by 41.9% during 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 in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 577 shares during the last quarter. 88.76% of the stock is currently owned by 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.