TD Cowen Forecasts Strong Price Appreciation for Ally Financial (NYSE:ALLY) Stock

Ally Financial (NYSE:ALLY) had its target price boosted by equities researchers at TD Cowen from $50.00 to $55.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective indicates a potential upside of 20.34% from the stock’s current price.

ALLY has been the topic of several other research reports. Barclays boosted their target price on shares of Ally Financial from $44.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price objective on shares of Ally Financial in a research note on Tuesday. UBS Group began coverage on shares of Ally Financial in a report on Thursday. They set a “buy” rating and a $56.00 price objective on the stock. Keefe, Bruyette & Woods reduced their target price on Ally Financial from $56.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ally Financial in a research report on Monday, December 29th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Ally Financial currently has a consensus rating of “Moderate Buy” and an average price target of $48.88.

Ally Financial Trading Down 0.4%

Ally Financial stock opened at $45.71 on Thursday. The stock has a 50-day moving average of $42.68 and a two-hundred day moving average of $40.88. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial has a one year low of $29.52 and a one year high of $47.27. The stock has a market cap of $14.08 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 0.22 and a beta of 1.17.

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

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

Insider Activity at Ally Financial

In related news, insider Kathleen L. Patterson sold 29,000 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total transaction of $1,184,940.00. Following the sale, the insider directly owned 100,203 shares of the company’s stock, valued at $4,094,294.58. This trade represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Ally Financial in the second quarter valued at about $95,897,000. Charles Schwab Investment Management Inc. grew its stake in Ally Financial by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,384,980 shares of the financial services provider’s stock valued at $92,895,000 after acquiring an additional 72,444 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Ally Financial by 19.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,029 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 1,163 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Ally Financial by 535.4% in the 2nd quarter. Acadian Asset Management LLC now owns 933,988 shares of the financial services provider’s stock valued at $36,372,000 after acquiring an additional 786,985 shares during the last quarter. Finally, 111 Capital purchased a new position in Ally Financial in the 2nd quarter worth approximately $490,000. 88.76% of the stock is owned by institutional investors and hedge funds.

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.