UBS Group Increases Ally Financial (NYSE:ALLY) Price Target to $28.00

Ally Financial (NYSE:ALLY) had its price objective upped by UBS Group from $27.00 to $28.00 in a research note released on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Cfra upped their price target on shares of Ally Financial to $12.00 and gave the stock a strong sell rating in a research note on Tuesday, April 21st. BMO Capital Markets raised shares of Ally Financial from a market perform rating to an outperform rating and increased their target price for the stock from $25.00 to $30.00 in a research report on Thursday, May 14th. JPMorgan Chase & Co. raised shares of Ally Financial from a neutral rating to an overweight rating and set a $23.50 target price on the stock in a research report on Wednesday, July 15th. ValuEngine raised shares of Ally Financial from a sell rating to a hold rating in a research report on Thursday, July 2nd. Finally, BTIG Research downgraded shares of Ally Financial from a buy rating to a neutral rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $26.62.

NYSE ALLY opened at $20.10 on Wednesday. Ally Financial has a 1-year low of $10.22 and a 1-year high of $35.42. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 2.30. The company has a market capitalization of $7.50 billion, a PE ratio of 9.44 and a beta of 1.62. The firm’s fifty day simple moving average is $20.19 and its 200-day simple moving average is $21.21.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.30. Ally Financial had a net margin of 10.87% and a return on equity of 5.82%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the business posted $0.97 earnings per share. Ally Financial’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts predict that Ally Financial will post 0.7 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Thursday, July 30th. Ally Financial’s payout ratio is presently 20.43%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cipher Capital LP bought a new stake in shares of Ally Financial in the first quarter valued at about $206,000. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Ally Financial by 51.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 148,508 shares of the financial services provider’s stock valued at $2,143,000 after buying an additional 50,516 shares during the period. State of Michigan Retirement System bought a new stake in shares of Ally Financial in the first quarter valued at about $8,658,000. Macquarie Group Ltd. lifted its stake in shares of Ally Financial by 27.6% in the fourth quarter. Macquarie Group Ltd. now owns 113,804 shares of the financial services provider’s stock valued at $3,477,000 after buying an additional 24,617 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Ally Financial by 1.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,859,405 shares of the financial services provider’s stock valued at $26,831,000 after buying an additional 32,470 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

About Ally Financial

Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

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