Ally Financial (NYSE:ALLY) Price Target Cut to $42.00 by Analysts at JPMorgan Chase & Co.

Ally Financial (NYSE:ALLY) had its price objective reduced by JPMorgan Chase & Co. from $45.00 to $42.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other analysts have also commented on ALLY. BTIG Research upgraded Ally Financial from a “sell” rating to a “neutral” rating in a report on Monday, July 14th. Truist Financial boosted their target price on Ally Financial from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Citigroup upped their price target on Ally Financial from $59.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Evercore ISI lowered their price objective on shares of Ally Financial from $45.00 to $44.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. Finally, Morgan Stanley increased their target price on shares of Ally Financial from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.14.

Ally Financial Stock Performance

Shares of ALLY opened at $39.94 on Tuesday. The firm has a market cap of $12.29 billion, a P/E ratio of 25.94, a PEG ratio of 0.31 and a beta of 1.18. Ally Financial has a twelve month low of $29.52 and a twelve month high of $44.83. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s 50 day moving average price is $40.17 and its two-hundred day moving average price is $37.38.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.21. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 earnings per share. On average, analysts forecast that Ally Financial will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. Ally Financial’s dividend payout ratio (DPR) is currently 77.92%.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds and other institutional investors have recently modified their holdings of ALLY. Oak Thistle LLC raised its stake in Ally Financial by 273.9% in the third quarter. Oak Thistle LLC now owns 73,320 shares of the financial services provider’s stock valued at $2,874,000 after purchasing an additional 53,709 shares in the last quarter. GAMMA Investing LLC raised its stake in Ally Financial by 16.0% in the third quarter. GAMMA Investing LLC now owns 5,594 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 773 shares in the last quarter. Straightline Group LLC raised its stake in Ally Financial by 3.0% in the second quarter. Straightline Group LLC now owns 16,810 shares of the financial services provider’s stock valued at $655,000 after purchasing an additional 485 shares in the last quarter. Orion Porfolio Solutions LLC raised its stake in Ally Financial by 7.8% in the second quarter. Orion Porfolio Solutions LLC now owns 60,481 shares of the financial services provider’s stock valued at $2,356,000 after purchasing an additional 4,391 shares in the last quarter. Finally, State of Wyoming acquired a new position in Ally Financial in the second quarter valued at about $2,217,000. Institutional investors and hedge funds 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.