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

Ally Financial (NYSE:ALLY) had its target price lifted by Morgan Stanley from $41.00 to $45.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Evercore ISI dropped their target price on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. Truist Financial assumed coverage on shares of Ally Financial in a research report on Tuesday, January 7th. They set a “buy” rating and a $42.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Ally Financial from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Thursday. The Goldman Sachs Group upped their target price on shares of Ally Financial from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wolfe Research lowered Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.47.

Ally Financial Price Performance

Shares of ALLY stock opened at $40.12 on Thursday. The stock’s fifty day moving average is $36.92 and its 200-day moving average is $37.93. 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 $31.95 and a 52 week high of $45.46. The stock has a market capitalization of $12.22 billion, a PE ratio of 16.05, a PEG ratio of 0.40 and a beta of 1.44.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. The company had revenue of $2.09 billion during 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 company’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. Equities research analysts expect that Ally Financial will post 2.96 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.30 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.99%. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

Institutional Inflows and Outflows

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