Morgan Stanley Issues Positive Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its price target lifted by Morgan Stanley from $41.00 to $42.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the company. TD Cowen reduced their price target on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Bank of America lowered their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Wolfe Research downgraded Ally Financial from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Royal Bank of Canada restated an “outperform” rating and set a $40.00 target price on shares of Ally Financial in a report on Monday, October 21st. Finally, Barclays decreased their target price on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.14.

Ally Financial Trading Up 0.1 %

NYSE ALLY opened at $34.63 on Thursday. 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 has a 12 month low of $31.77 and a 12 month high of $45.46. The company has a market capitalization of $10.55 billion, a PE ratio of 13.85, a P/E/G ratio of 0.46 and a beta of 1.42. The stock has a 50-day simple moving average of $36.71 and a 200 day simple moving average of $38.50.

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

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.30 per share. The ex-dividend date was Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.47%. Ally Financial’s dividend payout ratio (DPR) is 48.00%.

Hedge Funds Weigh In On Ally Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 526 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Ally Financial by 153.9% during the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Ally Financial during the second quarter worth about $41,000. Allworth Financial LP grew its position in Ally Financial by 41.9% in the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 421 shares in the last quarter. Finally, Quarry LP grew its position in Ally Financial by 311.4% in the 2nd quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,143 shares in the last quarter. Institutional investors and hedge funds 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.