Ally Financial (NYSE:ALLY) Stock Price Target Cut by JPMorgan Chase & Co.

Ally Financial (NYSE:ALLY) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $48.00 to $43.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 13.59% from the stock’s previous close.

ALLY has been the topic of several other research reports. Bank of America increased their price objective on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Ally Financial in a research report on Friday, September 18th. Wells Fargo & Company lowered Ally Financial from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $55.00 to $42.00 in a research note on Wednesday, September 30th. Citigroup cut their target price on Ally Financial from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, September 25th. Finally, The Goldman Sachs Group set a $45.00 price objective on shares of Ally Financial in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Ally Financial Trading Up 0.7%

ALLY stock traded up $0.27 during mid-day trading on Monday, reaching $37.86. 809,663 shares of the stock traded hands, compared to its average volume of 3,492,735. The stock has a market capitalization of $11.52 billion, a PE ratio of 8.93, a PEG ratio of 0.23 and a beta of 1.11. Ally Financial has a one year low of $35.92 and a one year high of $47.29. The business has a 50-day moving average price of $41.49 and a two-hundred day moving average price of $42.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts expect that Ally Financial will post 5.05 EPS for the current year.

Insider Activity

In related news, insider Stephanie Richard sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the sale, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by corporate insiders.

Institutional Trading of Ally Financial

Hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont acquired a new stake in shares of Ally Financial in the second quarter valued at approximately $36,000. Elevation Wealth Partners LLC boosted its position in shares of Ally Financial by 92.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,005 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 482 shares during the period. SJS Investment Consulting Inc. boosted its holdings in Ally Financial by 30.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 240 shares during the period. First Community Trust NA acquired a new position in shares of Ally Financial in the third quarter valued at approximately $50,000. Finally, Philadelphia Investment Partners LLC acquired a new position in shares of Ally Financial in the second quarter worth $53,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc (NYSE:ALLY) is a digital financial-services company headquartered in Detroit, Michigan. Its principal businesses include automotive financing, consumer banking, commercial finance and other lending services, primarily serving customers and businesses in the United States.

Through Ally Auto, the company provides retail installment loans and leases for new and used vehicles, along with financing and related services for automotive dealers. Ally Bank offers online checking and savings accounts, money market accounts, certificates of deposit and other deposit products.