Ally Financial (NYSE:ALLY) Upgraded by StockNews.com to “Buy” Rating

Ally Financial (NYSE:ALLY) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

ALLY has been the topic of several other reports. Barclays upped their price target on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Truist Financial initiated coverage on Ally Financial in a report on Tuesday, January 7th. They set a “buy” rating and a $42.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of Ally Financial in a report on Monday, October 21st. Wells Fargo & Company dropped their price objective on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, September 26th. Finally, Wolfe Research cut shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Ally Financial presently has a consensus rating of “Hold” and an average price target of $42.53.

Ally Financial Stock Performance

Shares of Ally Financial stock traded up $1.77 on Wednesday, reaching $37.09. 2,819,240 shares of the stock were exchanged, compared to its average volume of 2,713,466. The business has a 50 day moving average price of $36.89 and a two-hundred day moving average price of $38.02. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.46 and a beta of 1.44. Ally Financial has a twelve month low of $31.77 and a twelve month high of $45.46. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.57 by $0.38. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 EPS. Analysts anticipate that Ally Financial will post 3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ally Financial

Several large investors have recently bought and sold shares of ALLY. State Street Corp boosted its stake in shares of Ally Financial by 0.5% in the third quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock worth $380,981,000 after acquiring an additional 51,426 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Ally Financial by 233.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,430,128 shares of the financial services provider’s stock worth $87,509,000 after purchasing an additional 1,701,264 shares during the last quarter. Jacobs Levy Equity Management Inc. grew 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 buying an additional 1,563,008 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ally Financial by 19.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,106,589 shares of the financial services provider’s stock valued at $74,974,000 after buying an additional 344,543 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Ally Financial by 4.7% in the third quarter. Jennison Associates LLC now owns 1,672,812 shares of the financial services provider’s stock worth $59,535,000 after buying an additional 75,080 shares in the last quarter. 88.76% of the stock is currently 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.