TD Cowen Raises Ally Financial (NYSE:ALLY) Price Target to $43.00

Ally Financial (NYSE:ALLY) had its price target lifted by TD Cowen from $42.00 to $43.00 in a research report released on Friday, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on ALLY. Barclays upped their target price on shares of Ally Financial from $32.00 to $43.00 and gave the company an equal weight rating in a report on Tuesday, January 2nd. Bank of America raised shares of Ally Financial from a neutral rating to a buy rating and upped their target price for the company from $42.00 to $46.00 in a report on Tuesday, April 9th. Royal Bank of Canada reissued an outperform rating and issued a $40.00 price objective on shares of Ally Financial in a research note on Monday, January 22nd. JPMorgan Chase & Co. cut shares of Ally Financial from a neutral rating to an underweight rating and increased their price objective for the stock from $37.00 to $39.00 in a research note on Wednesday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ally Financial in a research note on Wednesday, January 10th. They issued a buy rating and a $47.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $38.47.

Ally Financial Stock Up 0.9 %

Shares of Ally Financial stock opened at $39.05 on Friday. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 0.57 and a beta of 1.40. The company’s 50 day moving average is $37.71 and its 200 day moving average is $33.03. Ally Financial has a twelve month low of $22.54 and a twelve month high of $41.56. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 1.50.

Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Research analysts anticipate that Ally Financial will post 2.9 EPS for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.20 annualized dividend and a yield of 3.07%. Ally Financial’s payout ratio is 48.98%.

Hedge Funds Weigh In On Ally Financial

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Ally Financial by 1.0% during the third quarter. Vanguard Group Inc. now owns 28,009,495 shares of the financial services provider’s stock valued at $747,293,000 after purchasing an additional 290,842 shares during the last quarter. Sessa Capital IM L.P. lifted its position in Ally Financial by 426.5% during the first quarter. Sessa Capital IM L.P. now owns 9,493,106 shares of the financial services provider’s stock valued at $241,979,000 after purchasing an additional 7,689,915 shares during the last quarter. State Street Corp lifted its position in Ally Financial by 3.3% during 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 during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Ally Financial by 18.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 8,343,564 shares of the financial services provider’s stock valued at $212,677,000 after purchasing an additional 1,281,000 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Ally Financial by 195.1% during the fourth quarter. Millennium Management LLC now owns 6,058,768 shares of the financial services provider’s stock valued at $148,137,000 after purchasing an additional 4,005,417 shares during the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

About Ally Financial

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.