Analysts Set Ally Financial Inc. (NYSE:ALLY) Price Target at $40.69

Shares of Ally Financial Inc. (NYSE:ALLY) have earned an average recommendation of “Hold” from the seventeen brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $40.69.

A number of brokerages recently weighed in on ALLY. TD Cowen cut their price objective on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Barclays dropped their price target on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. Keefe, Bruyette & Woods decreased their price objective on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Monday, September 16th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of Ally Financial in a research note on Monday, October 21st.

Ally Financial Price Performance

NYSE ALLY opened at $39.43 on Wednesday. The company has a 50-day moving average price of $35.59 and a two-hundred day moving average price of $38.64. Ally Financial has a 52 week low of $26.50 and a 52 week high of $45.46. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company posted $0.83 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts forecast that Ally Financial will post 3 EPS for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.04%. Ally Financial’s payout ratio is 48.00%.

Institutional Investors Weigh In On Ally Financial

Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in shares of Ally Financial by 68.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock worth $2,455,000 after acquiring an additional 28,114 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Ally Financial by 245.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider’s stock worth $24,687,000 after purchasing an additional 432,350 shares during the period. OLD National Bancorp IN boosted its stake in Ally Financial by 3.8% during the second quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock worth $34,933,000 after buying an additional 32,478 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Ally Financial by 15.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock valued at $14,988,000 after buying an additional 49,539 shares during the period. Finally, Fulton Bank N.A. acquired a new position in shares of Ally Financial in the 2nd quarter valued at $689,000. Institutional investors own 88.76% of the company’s stock.

Ally Financial Company Profile

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.