Ally Financial (NYSE:ALLY) Price Target Raised to $43.00 at JPMorgan Chase & Co.

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

A number of other equities research analysts have also recently commented on the company. Morgan Stanley raised their price target on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday. The Goldman Sachs Group boosted their price target on Ally Financial from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Ally Financial in a report on Monday, October 21st. Barclays boosted their target price on shares of Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.47.

Ally Financial Stock Performance

Shares of ALLY opened at $40.12 on Thursday. Ally Financial has a 52 week low of $31.95 and a 52 week high of $45.46. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. 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 business has a 50-day simple moving average of $36.92 and a two-hundred day simple moving average of $37.93.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.21. The business 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 revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, analysts expect that Ally Financial will post 2.96 EPS for the current year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.30 dividend. 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 Inflows and Outflows

Hedge funds have recently modified their holdings of the business. 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. boosted its stake in shares of Ally Financial by 217.0% during the third 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 during the period. Wedge Capital Management L L P NC grew its holdings in shares of Ally Financial by 584.7% in the third 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 last quarter. Point72 Asset Management L.P. purchased a new position in Ally Financial in the 3rd quarter worth about $21,571,000. Finally, 140 Summer Partners LP bought a new stake in Ally Financial during the 3rd quarter valued at about $19,140,000. Institutional investors own 88.76% of the company’s stock.

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.