JPMorgan Chase & Co. Issues Pessimistic Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $48.00 to $43.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 14.26% from the stock’s previous close.

ALLY has been the topic of a number of other reports. UBS Group cut their price target on Ally Financial from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Bank of America raised their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ally Financial in a research note on Friday, September 18th. Truist Financial dropped their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $43.00 target price (down from $55.00) on shares of Ally Financial in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Ally Financial Stock Down 0.7%

Shares of Ally Financial stock opened at $37.63 on Monday. Ally Financial has a one year low of $35.92 and a one year high of $47.29. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50-day moving average is $41.22 and its 200 day moving average is $42.72. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 0.23 and a beta of 1.11.

Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.01). The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. Equities research analysts anticipate that Ally Financial will post 5.03 EPS for the current year.

Insider Buying and Selling

In related news, insider Stephanie Richard sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the sale, the insider directly owned 88,927 shares of the company’s stock, valued at $3,933,241.21. The trade was a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALLY. Tocqueville Asset Management L.P. purchased a new stake in shares of Ally Financial in the second quarter worth approximately $17,613,000. State of Wyoming purchased a new position in shares of Ally Financial during the second quarter valued at approximately $3,195,000. Amundi boosted its position in shares of Ally Financial by 183.5% during the second quarter. Amundi now owns 274,754 shares of the financial services provider’s stock valued at $12,625,000 after buying an additional 177,832 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Ally Financial by 7.1% during the first quarter. Bank of America Corp DE now owns 2,889,620 shares of the financial services provider’s stock valued at $113,360,000 after buying an additional 190,514 shares during the last quarter. Finally, Trillium Asset Management LLC bought a new stake in Ally Financial during the second quarter worth $4,886,000. Institutional investors 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.