Ally Financial (NYSE:ALLY) Given New $34.00 Price Target at Wells Fargo & Company

Ally Financial (NYSE:ALLY) had its price target lifted by Wells Fargo & Company from $32.00 to $34.00 in a report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider’s stock.

ALLY has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on Ally Financial from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. StockNews.com lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price target on shares of Ally Financial in a report on Monday, October 21st. Evercore ISI decreased their price objective on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a report on Monday, October 7th. Finally, Wolfe Research downgraded shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Ally Financial currently has a consensus rating of “Hold” and a consensus target price of $43.47.

Ally Financial Trading Up 1.2 %

ALLY stock opened at $40.12 on Thursday. Ally Financial has a twelve month low of $31.95 and a twelve month high of $45.46. The stock has a market capitalization of $12.22 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. The firm’s fifty day simple moving average is $36.92 and its two-hundred day simple moving average is $37.93.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.57 by $0.21. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2,021,808.41 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. As a group, analysts anticipate that Ally Financial will post 2.96 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, January 31st. Ally Financial’s payout ratio is currently 48.00%.

Hedge Funds Weigh In On Ally Financial

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in shares of Ally Financial by 233.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock worth $87,509,000 after buying an additional 1,701,264 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Ally Financial by 217.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock worth $81,260,000 after purchasing an additional 1,563,008 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Ally Financial by 584.7% during the third quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock worth $49,659,000 after purchasing an additional 1,191,529 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Ally Financial during the 3rd quarter valued at $21,571,000. Finally, 140 Summer Partners LP acquired a new stake in shares of Ally Financial in the 3rd quarter worth $19,140,000. 88.76% of the stock is currently owned by 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.