Citigroup Forecasts Strong Price Appreciation for Ally Financial (NYSE:ALLY) Stock

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

A number of other research analysts also recently commented on the stock. BTIG Research downgraded shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Bank of America cut their price objective on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 target price on shares of Ally Financial in a research report on Monday, October 21st. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Finally, Morgan Stanley dropped their price objective on Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Ally Financial has a consensus rating of “Hold” and a consensus price target of $40.69.

Ally Financial Stock Performance

Ally Financial stock opened at $36.22 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $11.04 billion, a PE ratio of 14.49, a P/E/G ratio of 0.43 and a beta of 1.40. The company has a 50 day moving average price of $35.14 and a 200-day moving average price of $38.75. Ally Financial has a fifty-two week low of $26.50 and a fifty-two week high of $45.46.

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

Ally Financial Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.31%. Ally Financial’s payout ratio is currently 48.00%.

Institutional Trading of Ally Financial

Several large investors have recently added to or reduced their stakes in ALLY. State Street Corp boosted its holdings in shares of Ally Financial by 0.5% in the 3rd quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock valued at $380,981,000 after acquiring an additional 51,426 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Ally Financial by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock worth $384,715,000 after purchasing an additional 987,489 shares during the period. Boston Partners purchased a new position in shares of Ally Financial during the 1st quarter valued at about $152,079,000. Bank of New York Mellon Corp lifted its holdings in shares of Ally Financial by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,697,251 shares of the financial services provider’s stock valued at $146,670,000 after buying an additional 31,491 shares during the period. Finally, Donald Smith & CO. Inc. boosted its stake in shares of Ally Financial by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 2,774,487 shares of the financial services provider’s stock worth $112,616,000 after buying an additional 21,657 shares during the last quarter. Hedge funds and other 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.