Ally Financial (NYSE:ALLY) Lifted to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Ally Financial (NYSE:ALLY) from a neutral rating to an overweight rating in a research note issued to investors on Monday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $40.00 price target on the financial services provider’s stock, down from their prior price target of $46.00.

A number of other brokerages have also weighed in on ALLY. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ally Financial from $51.00 to $50.00 and set a buy rating for the company in a research note on Monday, July 1st. TD Cowen decreased their price target on Ally Financial from $45.00 to $37.00 and set a hold rating for the company in a research note on Monday, September 23rd. Keefe, Bruyette & Woods cut their price objective on Ally Financial from $50.00 to $44.00 and set an outperform rating for the company in a research report on Monday, September 16th. Morgan Stanley decreased their target price on Ally Financial from $49.00 to $45.00 and set an overweight rating on the stock in a report on Wednesday, September 11th. Finally, BTIG Research cut Ally Financial from a buy rating to a neutral rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $40.63.

Ally Financial Price Performance

Ally Financial stock opened at $35.11 on Monday. Ally Financial has a 12-month low of $22.54 and a 12-month high of $45.46. The business’s 50-day simple moving average is $38.32 and its 200 day simple moving average is $39.33. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 0.37 and a beta of 1.39.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the business posted $0.96 EPS. Ally Financial’s revenue was down 3.8% on a year-over-year basis. As a group, research analysts anticipate that Ally Financial will post 3.15 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Friday, November 1st. Ally Financial’s payout ratio is currently 48.98%.

Institutional Investors Weigh In On Ally Financial

Several institutional investors and hedge funds have recently bought and sold shares of ALLY. Gabelli Funds LLC lifted its holdings in shares of Ally Financial by 6.4% in the fourth quarter. Gabelli Funds LLC now owns 38,040 shares of the financial services provider’s stock worth $1,328,000 after acquiring an additional 2,300 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in Ally Financial in the fourth quarter valued at about $1,085,000. Caxton Associates LP acquired a new stake in shares of Ally Financial during the fourth quarter valued at about $14,370,000. Coatue Management LLC bought a new position in shares of Ally Financial during the fourth quarter valued at $16,523,000. Finally, Barden Capital Management Inc. increased its position in Ally Financial by 14.7% during the 4th quarter. Barden Capital Management Inc. now owns 34,545 shares of the financial services provider’s stock valued at $1,206,000 after purchasing an additional 4,419 shares during the period. 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.