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

Key Points

• JPMorgan Chase & Co. has lowered its price target for Ally Financial from $45.00 to $42.00, while maintaining an "overweight" rating, indicating a potential upside of 5.55% from its previous close.
• In contrast, other analysts like Wells Fargo and Citigroup have raised their target prices for Ally Financial, showing a mixed sentiment among market experts about the stock's future performance.
• Ally Financial reported better-than-expected earnings last quarter, with an EPS of $0.99, beating estimates of $0.78, and has an average rating of "Moderate Buy" from nine analysts.

Ally Financial (NYSE:ALLY - Get Free Report) had its price target decreased by JPMorgan Chase & Co. from $45.00 to $42.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 5.55% from the company's previous close.

Other research analysts have also issued research reports about the company. Truist Financial boosted their target price on Ally Financial from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wells Fargo & Company raised Ally Financial from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $37.00 to $45.00 in a report on Tuesday, September 2nd. Citigroup boosted their target price on Ally Financial from $59.00 to $70.00 and gave the company a "buy" rating in a report on Monday, September 15th. Morgan Stanley boosted their target price on Ally Financial from $47.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ally Financial in a research note on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $45.14.

Ally Financial Trading Up 0.4%

ALLY opened at $39.79 on Tuesday. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 0.31 and a beta of 1.18. Ally Financial has a 52 week low of $29.52 and a 52 week high of $44.83. The business's 50 day moving average is $40.14 and its two-hundred day moving average is $37.36. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.21. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. On average, research analysts predict that Ally Financial will post 3.57 EPS for the current year.

Institutional Investors Weigh In On Ally Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Ally Financial by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,797,505 shares of the financial services provider's stock worth $320,855,000 after acquiring an additional 134,113 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Ally Financial in the 1st quarter worth approximately $253,881,000. Arrowstreet Capital Limited Partnership grew its position in shares of Ally Financial by 39.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider's stock worth $210,352,000 after acquiring an additional 1,523,425 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Ally Financial by 10.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,658,877 shares of the financial services provider's stock valued at $169,909,000 after purchasing an additional 456,698 shares during the period. Finally, First Manhattan CO. LLC. raised its stake in Ally Financial by 0.8% during the 1st quarter. First Manhattan CO. LLC. now owns 4,258,760 shares of the financial services provider's stock valued at $155,317,000 after acquiring an additional 32,121 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

About Ally Financial

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

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