Ally Financial (NYSE:ALLY) Price Target Raised to $55.00

Ally Financial (NYSE:ALLY) had its target price upped by TD Cowen from $50.00 to $55.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the company. UBS Group initiated coverage on Ally Financial in a report on Thursday. They issued a “buy” rating and a $56.00 price target for the company. Citigroup increased their target price on shares of Ally Financial from $59.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. boosted their price target on shares of Ally Financial from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Morgan Stanley set a $53.00 price objective on Ally Financial and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, Barclays upped their target price on Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Ally Financial has an average rating of “Moderate Buy” and an average price target of $48.88.

Ally Financial Trading Down 0.4%

Shares of NYSE:ALLY opened at $45.71 on Thursday. Ally Financial has a 52 week low of $29.52 and a 52 week high of $47.27. The company’s 50 day moving average is $42.68 and its two-hundred day moving average is $40.90. The company has a market cap of $14.08 billion, a PE ratio of 27.53, a P/E/G ratio of 0.22 and a beta of 1.17. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31.

Ally Financial (NYSE:ALLY) last issued its earnings results on Monday, July 28th. The financial services provider reported $0.99 EPS for the quarter. The firm had revenue of $2.06 billion during the quarter. Ally Financial had a net margin of 8.10% and a return on equity of 9.96%. Equities analysts predict that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Ally Financial declared that its board has initiated a share buyback plan on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 15.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Ally Financial news, insider Kathleen L. Patterson sold 29,000 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $40.86, for a total value of $1,184,940.00. Following the transaction, the insider directly owned 100,203 shares of the company’s stock, valued at approximately $4,094,294.58. The trade was a 22.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ally Financial

Several institutional investors have recently made changes to their positions in the stock. Diversified Trust Co. lifted its holdings in shares of Ally Financial by 7.3% in the fourth quarter. Diversified Trust Co. now owns 79,936 shares of the financial services provider’s stock valued at $3,620,000 after purchasing an additional 5,454 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Ally Financial by 17.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,591 shares of the financial services provider’s stock worth $1,487,000 after purchasing an additional 4,644 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new position in shares of Ally Financial during the 4th quarter worth approximately $392,000. GAMMA Investing LLC lifted its stake in Ally Financial by 27.9% in the 4th quarter. GAMMA Investing LLC now owns 7,152 shares of the financial services provider’s stock valued at $324,000 after buying an additional 1,558 shares in the last quarter. Finally, Triumph Capital Management acquired a new stake in Ally Financial during the 3rd quarter valued at $112,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.