Ally Financial (NYSE:ALLY) Stock Rating Upgraded by Evercore ISI

Ally Financial (NYSE:ALLY) was upgraded by Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $53.00 price target on the financial services provider’s stock, up from their prior price target of $48.00. Evercore ISI’s price target points to a potential upside of 13.94% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Cowen raised shares of Ally Financial from a “hold” rating to a “buy” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. boosted their price objective on Ally Financial from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. BTIG Research restated a “neutral” rating on shares of Ally Financial in a report on Tuesday. Finally, Wells Fargo & Company upgraded Ally Financial from a “hold” rating to an “overweight” rating in a report on Wednesday, December 17th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Ally Financial has a consensus rating of “Moderate Buy” and a consensus target price of $48.07.

Ally Financial Price Performance

Shares of ALLY opened at $46.52 on Tuesday. Ally Financial has a 12-month low of $29.52 and a 12-month high of $47.27. The business’s fifty day moving average is $42.41 and its 200 day moving average is $40.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.31. The stock has a market cap of $14.33 billion, a P/E ratio of 28.02, a P/E/G ratio of 0.23 and a beta of 1.17.

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

Ally Financial announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 10th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 15.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Kathleen L. Patterson sold 29,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 100,203 shares of the company’s stock, valued at approximately $4,094,294.58. This trade represents a 22.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Institutional Trading of Ally Financial

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of Ally Financial by 19.6% in the third quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock worth $467,996,000 after purchasing an additional 1,958,201 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Ally Financial by 4.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,626,748 shares of the financial services provider’s stock worth $220,569,000 after buying an additional 226,188 shares during the period. Bank of America Corp DE grew its position in shares of Ally Financial by 38.9% in the 2nd quarter. Bank of America Corp DE now owns 3,771,190 shares of the financial services provider’s stock worth $146,888,000 after buying an additional 1,056,060 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in shares of Ally Financial by 7.7% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 3,500,623 shares of the financial services provider’s stock worth $136,360,000 after buying an additional 249,347 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Ally Financial during the second quarter valued at approximately $95,897,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Company Profile

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.