Ally Financial (NYSE:ALLY) Given New $55.00 Price Target at Citigroup

Ally Financial (NYSE:ALLY) had its price target hoisted by Citigroup from $50.00 to $55.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also weighed in on ALLY. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Wells Fargo & Company decreased their price target on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Thursday, September 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Ally Financial in a research report on Monday, October 21st. Morgan Stanley decreased their target price on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Finally, BTIG Research downgraded shares of Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.69.

Ally Financial Price Performance

ALLY stock remained flat at $36.22 during trading hours on Friday. The company’s stock had a trading volume of 2,166,851 shares, compared to its average volume of 3,484,636. The company has a market cap of $11.04 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The firm’s 50 day simple moving average is $35.14 and its 200-day simple moving average is $38.75. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial has a 52-week low of $26.50 and a 52-week high of $45.46.

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

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is 48.00%.

Hedge Funds Weigh In On Ally Financial

Several hedge funds have recently made changes to their positions in ALLY. Fifth Third Bancorp increased its position in Ally Financial by 1.2% during the 2nd quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock valued at $923,000 after purchasing an additional 278 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Ally Financial by 1.9% in the 3rd quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 293 shares during the period. Maverick Capital Ltd. boosted its position in shares of Ally Financial by 1.2% during the third quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider’s stock valued at $930,000 after purchasing an additional 299 shares in the last quarter. Blue Trust Inc. grew its stake in Ally Financial by 8.2% in the third quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 352 shares during the period. Finally, Allworth Financial LP lifted its position in Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after buying an additional 421 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

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.