Morgan Stanley Increases Ally Financial (NYSE:ALLY) Price Target to $42.00

Ally Financial (NYSE:ALLY) had its price target upped by Morgan Stanley from $41.00 to $42.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on ALLY. Wells Fargo & Company decreased their target price on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, September 26th. Barclays cut their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price target on shares of Ally Financial in a research note on Monday, October 21st. Keefe, Bruyette & Woods boosted their price objective on shares of Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.14.

Ally Financial Stock Performance

Shares of NYSE:ALLY opened at $34.86 on Thursday. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 0.46 and a beta of 1.42. The firm’s 50 day simple moving average is $36.69 and its 200 day simple moving average is $38.48. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial has a fifty-two week low of $31.77 and a fifty-two week high of $45.46.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.38. The company had revenue of $2.10 billion during 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 business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. As a group, sell-side analysts forecast that Ally Financial will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.44%. The ex-dividend date was Friday, November 1st. Ally Financial’s dividend payout ratio is 48.00%.

Hedge Funds Weigh In On Ally Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its position in shares of Ally Financial by 0.5% during 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 buying an additional 51,426 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Ally Financial by 11.3% during the second 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. Bank of New York Mellon Corp increased its stake in shares of Ally Financial by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 3,697,251 shares of the financial services provider’s stock worth $146,670,000 after purchasing an additional 31,491 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of 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 valued at $81,260,000 after purchasing an additional 1,563,008 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ally Financial by 19.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,106,589 shares of the financial services provider’s stock valued at $74,974,000 after purchasing an additional 344,543 shares during the period. 88.76% of the stock is 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.