Ally Financial (NYSE:ALLY) Given New $36.00 Price Target at The Goldman Sachs Group

Ally Financial (NYSE:ALLYGet Rating) had its price target raised by The Goldman Sachs Group from $28.00 to $36.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

ALLY has been the subject of several other reports. TheStreet downgraded Ally Financial from a b- rating to a c+ rating in a research report on Wednesday, October 19th. Wells Fargo & Company decreased their price target on Ally Financial from $22.00 to $20.00 and set an underweight rating for the company in a research note on Tuesday, January 3rd. Jefferies Financial Group downgraded shares of Ally Financial from a buy rating to a hold rating and reduced their price objective for the stock from $40.00 to $25.00 in a report on Tuesday, January 10th. Credit Suisse Group lowered their target price on shares of Ally Financial from $36.00 to $35.00 and set an outperform rating on the stock in a research note on Monday. Finally, Piper Sandler raised shares of Ally Financial from an underweight rating to a neutral rating and upped their price target for the stock from $25.00 to $28.00 in a research note on Monday, January 9th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ally Financial currently has an average rating of Hold and an average target price of $35.08.

Ally Financial Trading Up 2.8 %

Shares of NYSE:ALLY opened at $32.30 on Monday. Ally Financial has a fifty-two week low of $22.34 and a fifty-two week high of $51.05. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.64. The company has a market cap of $9.65 billion, a PE ratio of 6.50 and a beta of 1.27. The company’s 50-day moving average price is $25.82 and its 200 day moving average price is $29.41.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, January 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.72%. Ally Financial’s dividend payout ratio is currently 24.14%.

Hedge Funds Weigh In On Ally Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Ally Financial by 3.3% in the first quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock valued at $380,424,000 after purchasing an additional 281,795 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Ally Financial by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 6,526,831 shares of the financial services provider’s stock valued at $181,671,000 after buying an additional 23,879 shares during the period. Royal Bank of Canada lifted its stake in Ally Financial by 5.6% in the 1st quarter. Royal Bank of Canada now owns 6,035,703 shares of the financial services provider’s stock worth $262,433,000 after acquiring an additional 320,049 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Ally Financial by 25.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,924,412 shares of the financial services provider’s stock worth $131,507,000 after acquiring an additional 789,658 shares during the period. Finally, Magnolia Group LLC increased its holdings in shares of Ally Financial by 9.4% in the 4th quarter. Magnolia Group LLC now owns 3,407,000 shares of the financial services provider’s stock valued at $83,301,000 after purchasing an additional 292,000 shares during the period. Institutional investors and hedge funds own 90.35% of the company’s stock.

Ally Financial Company Profile

(Get Rating)

Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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