UBS Group Begins Coverage on Ally Financial (NYSE:ALLY)

Equities researchers at UBS Group started coverage on shares of Ally Financial (NYSE:ALLY) in a research note issued on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $56.00 price target on the financial services provider’s stock. UBS Group’s target price points to a potential upside of 22.52% from the company’s current price.

Several other equities analysts also recently weighed in on ALLY. Barclays lifted 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. Wells Fargo & Company raised Ally Financial from a “hold” rating to an “overweight” rating in a research note on Wednesday, December 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Ally Financial in a research report on Tuesday. BTIG Research reissued a “neutral” rating on shares of Ally Financial in a report on Tuesday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ally Financial in a research note on Monday, December 29th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.88.

Ally Financial Stock Performance

Shares of NYSE ALLY opened at $45.71 on Thursday. Ally Financial has a 12-month low of $29.52 and a 12-month high of $47.27. The firm has a market capitalization of $14.08 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth 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. The firm has a 50 day moving average of $42.68 and a 200 day moving average of $40.88.

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 net margin of 8.10% and a return on equity of 9.96%. The business had revenue of $2.06 billion for the quarter. On average, research analysts anticipate that Ally Financial will post 3.57 earnings per share for the current year.

Ally Financial declared that its Board of Directors has authorized a share buyback program on Wednesday, December 10th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 15.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Ally Financial

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 sale, the insider owned 100,203 shares in the company, valued at $4,094,294.58. The trade was a 22.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position 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 buying an additional 1,958,201 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake 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 acquiring an additional 226,188 shares during the last quarter. Bank of America Corp DE increased its stake in 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 acquiring an additional 1,056,060 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its holdings in shares of Ally Financial by 7.7% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 3,500,623 shares of the financial services provider’s stock worth $136,360,000 after acquiring an additional 249,347 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Ally Financial during the 2nd quarter valued at approximately $95,897,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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.