Barclays Increases Ally Financial (NYSE:ALLY) Price Target to $44.00

Ally Financial (NYSE:ALLY) had its price target lifted by Barclays from $36.00 to $44.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 22.94% from the stock’s current price.

Several other brokerages also recently commented on ALLY. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Ally Financial in a research note on Monday, October 21st. Bank of America decreased their price objective on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Citigroup lifted their price target on shares of Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Finally, Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.67.

Ally Financial Stock Down 1.2 %

Shares of NYSE ALLY opened at $35.79 on Monday. The firm’s 50-day moving average is $36.86 and its 200-day moving average is $38.21. Ally Financial has a 1 year low of $31.77 and a 1 year high of $45.46. The firm has a market capitalization of $10.91 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.46 and a beta of 1.44. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last released its 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 firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Equities analysts expect that Ally Financial will post 3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. increased its holdings in shares of Ally Financial by 217.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock worth $81,260,000 after purchasing an additional 1,563,008 shares during the period. Wedge Capital Management L L P NC raised its holdings in Ally Financial by 584.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock valued at $49,659,000 after acquiring an additional 1,191,529 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $384,715,000 after acquiring an additional 987,489 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Ally Financial by 2,088.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 728,864 shares of the financial services provider’s stock worth $25,940,000 after purchasing an additional 695,555 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Ally Financial in the third quarter worth $21,571,000. 88.76% of the stock is owned by institutional investors and hedge funds.

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.