Ally Financial (NYSE:ALLY) Receives New Coverage from Analysts at TD Cowen

Analysts at TD Cowen began coverage on shares of Ally Financial (NYSE:ALLY) in a note issued to investors on Wednesday, MarketBeat reports. The firm set a “market perform” rating and a $28.00 price target on the financial services provider’s stock. TD Cowen’s target price suggests a potential upside of 7.86% from the stock’s current price.

ALLY has been the topic of a number of other research reports. Piper Sandler boosted their target price on shares of Ally Financial from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Friday, September 29th. The Goldman Sachs Group reduced their price target on Ally Financial from $32.00 to $31.00 in a research report on Monday, October 2nd. TheStreet downgraded Ally Financial from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. Royal Bank of Canada reduced their target price on Ally Financial from $35.00 to $33.00 in a report on Thursday, October 19th. Finally, Citigroup lowered their price target on shares of Ally Financial from $37.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.78.

Ally Financial Stock Up 6.8 %

NYSE ALLY opened at $25.96 on Wednesday. The business has a fifty day moving average price of $26.17 and a two-hundred day moving average price of $26.91. The stock has a market capitalization of $7.83 billion, a PE ratio of 7.09 and a beta of 1.38. Ally Financial has a fifty-two week low of $21.58 and a fifty-two week high of $35.78. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.93 and a quick ratio of 0.93.

Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Ally Financial had a return on equity of 11.36% and a net margin of 14.64%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 earnings per share. Equities analysts expect that Ally Financial will post 3.23 earnings per share for the current fiscal year.

Institutional Trading of Ally Financial

Large investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC grew its position in Ally Financial by 2.8% in the 3rd quarter. JFS Wealth Advisors LLC now owns 26,864 shares of the financial services provider’s stock valued at $717,000 after purchasing an additional 725 shares during the period. Principal Financial Group Inc. grew its position in Ally Financial by 4,867.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,001,294 shares of the financial services provider’s stock valued at $26,715,000 after purchasing an additional 981,138 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new stake in Ally Financial in the 3rd quarter valued at $270,000. Ingalls & Snyder LLC grew its position in Ally Financial by 101.9% in the 3rd quarter. Ingalls & Snyder LLC now owns 32,700 shares of the financial services provider’s stock valued at $872,000 after purchasing an additional 16,500 shares during the period. Finally, New Mexico Educational Retirement Board acquired a new stake in Ally Financial in the 3rd quarter valued at $1,435,000. Institutional investors and hedge funds own 86.04% of the company’s stock.

About Ally Financial

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.