JPMorgan Chase & Co. Cuts Ally Financial (NYSE:ALLY) Price Target to $46.00

Ally Financial (NYSE:ALLY) had its price objective cut by JPMorgan Chase & Co. from $48.00 to $46.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. UBS Group set a $48.00 price objective on shares of Ally Financial in a research report on Monday, January 12th. Weiss Ratings cut shares of Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Evercore decreased their price objective on shares of Ally Financial from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $52.00 price objective on shares of Ally Financial in a research report on Monday, January 12th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Ally Financial has a consensus rating of “Moderate Buy” and an average price target of $53.29.

Ally Financial Stock Performance

Ally Financial stock opened at $41.21 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $12.69 billion, a PE ratio of 17.54, a P/E/G ratio of 0.21 and a beta of 1.14. The firm has a fifty day simple moving average of $39.99 and a two-hundred day simple moving average of $41.20. Ally Financial has a twelve month low of $29.91 and a twelve month high of $47.27.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. Research 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 was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, February 2nd. Ally Financial’s dividend payout ratio is currently 51.06%.

Insider Activity at Ally Financial

In related news, CFO Russell E. Hutchinson acquired 11,566 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were bought at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the transaction, the chief financial officer directly owned 225,336 shares in the company, valued at approximately $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael George Rhodes acquired 23,800 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average price of $41.68 per share, for a total transaction of $991,984.00. Following the transaction, the chief executive officer owned 49,434 shares of the company’s stock, valued at $2,060,409.12. This trade represents a 92.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLY. Chung Wu Investment Group LLC increased its holdings in Ally Financial by 224.1% during the third quarter. Chung Wu Investment Group LLC now owns 38,890 shares of the financial services provider’s stock valued at $1,524,000 after buying an additional 26,890 shares during the last quarter. NewSquare Capital LLC increased its holdings in Ally Financial by 21,520.9% during the third quarter. NewSquare Capital LLC now owns 27,891 shares of the financial services provider’s stock valued at $1,093,000 after buying an additional 27,762 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Ally Financial during the third quarter valued at approximately $1,194,000. Principal Financial Group Inc. increased its holdings in Ally Financial by 7.5% during the third quarter. Principal Financial Group Inc. now owns 674,471 shares of the financial services provider’s stock valued at $26,439,000 after buying an additional 47,184 shares during the last quarter. Finally, Prana Capital Management LP increased its holdings in Ally Financial by 177.3% during the third quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider’s stock valued at $7,007,000 after buying an additional 114,305 shares during the last quarter. Institutional investors own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.