JPMorgan Chase & Co. Issues Positive Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its price target lifted by JPMorgan Chase & Co. from $42.00 to $43.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also recently commented on ALLY. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ally Financial in a research note on Monday, July 14th. TD Cowen raised Ally Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $43.00 to $50.00 in a research report on Monday. Evercore ISI decreased their target price on Ally Financial from $45.00 to $44.00 and set an “in-line” rating for the company in a research report on Tuesday, September 30th. BTIG Research upgraded shares of Ally Financial from a “sell” rating to a “neutral” rating in a report on Monday, July 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Ally Financial in a research report on Tuesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.67.

Ally Financial Trading Up 1.7%

Shares of ALLY opened at $40.49 on Monday. The company’s fifty day simple moving average is $40.46 and its 200-day simple moving average is $37.57. The company has a market cap of $12.46 billion, a P/E ratio of 24.39, a P/E/G ratio of 0.30 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31. Ally Financial has a twelve month low of $29.52 and a twelve month high of $44.83.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.99 EPS for the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. The firm had revenue of $2.06 billion during the quarter. As a group, analysts expect that Ally Financial will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. Ally Financial’s dividend payout ratio is presently 72.29%.

Hedge Funds Weigh In On Ally Financial

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ally Financial in the 1st quarter worth $1,998,000. Teacher Retirement System of Texas purchased a new stake in Ally Financial in the first quarter valued at about $1,462,000. Bessemer Group Inc. raised its stake in Ally Financial by 59.6% in the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock valued at $37,000 after buying an additional 377 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ally Financial by 40.6% in the first quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 952 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Ally Financial by 56.3% during the first quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider’s stock worth $2,466,000 after acquiring an additional 24,372 shares during the last quarter. 88.76% of the stock is 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.