Ally Financial (NYSE:ALLY) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Ally Financial (NYSE:ALLY) had its price target cut by JPMorgan Chase & Co. from $48.00 to $43.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. TD Cowen cut their price target on Ally Financial from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Ally Financial in a report on Friday, September 18th. The Goldman Sachs Group set a $45.00 price objective on Ally Financial in a research report on Tuesday, October 6th. Truist Financial lowered their price objective on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Finally, UBS Group cut their target price on Ally Financial from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Ally Financial Stock Down 2.4%

Shares of ALLY opened at $36.68 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50-day simple moving average of $41.06 and a 200-day simple moving average of $42.71. Ally Financial has a 52 week low of $35.92 and a 52 week high of $47.29. The firm has a market capitalization of $11.16 billion, a P/E ratio of 8.25, a P/E/G ratio of 0.23 and a beta of 1.11.

Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that Ally Financial will post 5.00 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.3%. Ally Financial’s payout ratio is presently 28.30%.

Insiders Place Their Bets

In related news, insider Stephanie Richard sold 5,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the transaction, the insider owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ally Financial

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Ally Financial during the second quarter worth $1,315,659,000. Berkshire Hathaway Inc acquired a new position in shares of Ally Financial during the second quarter valued at $1,240,650,000. Donald Smith & CO. Inc. bought a new position in Ally Financial in the second quarter valued at about $172,509,000. Bank of America Corp DE bought a new position in Ally Financial in the second quarter valued at about $105,379,000. Finally, Bank of New York Mellon Corp bought a new position in Ally Financial in the second quarter valued at about $103,930,000. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Company Profile

Ally Financial Inc (NYSE:ALLY) is a digital financial-services company headquartered in Detroit, Michigan. Its principal businesses include automotive financing, consumer banking, commercial finance and other lending services, primarily serving customers and businesses in the United States.

Through Ally Auto, the company provides retail installment loans and leases for new and used vehicles, along with financing and related services for automotive dealers. Ally Bank offers online checking and savings accounts, money market accounts, certificates of deposit and other deposit products.