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Fintel reports that on June 7, 2024, BTIG initiated coverage of Ally Financial (NYSE:ALLY) with a Buy recommendation.

Analyst Price Forecast Suggests 11.17% Upside

As of June 1, 2024, the average one-year price target for Ally Financial is 42.97. The forecasts range from a low of 23.43 to a high of $56.70. The average price target represents an increase of 11.17% from its latest reported closing price of 38.65.

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The projected annual revenue for Ally Financial is 9,012MM, an increase of 30.44%. The projected annual non-GAAP EPS is 5.34.

What is the Fund Sentiment?

There are 1,046 funds or institutions reporting positions in Ally Financial. This is an increase of 23 owner(s) or 2.25% in the last quarter. Average portfolio weight of all funds dedicated to ALLY is 0.28%, an increase of 1.87%. Total shares owned by institutions increased in the last three months by 0.77% to 314,994K shares.

The put/call ratio of ALLY is 1.13, indicating a bearish outlook.

What are Other Shareholders Doing?

Berkshire Hathaway holds 29,000K shares representing 9.54% ownership of the company. No change in the last quarter.

Harris Associates L P holds 21,078K shares representing 6.93% ownership of the company. In its prior filing, the firm reported owning 23,476K shares , representing a decrease of 11.37%. The firm decreased its portfolio allocation in ALLY by 4.15% over the last quarter.

OAKMX - Oakmark Fund Investor Class holds 11,959K shares representing 3.93% ownership of the company. No change in the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,629K shares representing 2.84% ownership of the company. In its prior filing, the firm reported owning 8,469K shares , representing an increase of 1.85%. The firm increased its portfolio allocation in ALLY by 7.97% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 8,452K shares representing 2.78% ownership of the company. In its prior filing, the firm reported owning 8,240K shares , representing an increase of 2.50%. The firm increased its portfolio allocation in ALLY by 7.31% over the last quarter.

Ally Financial Background Information
(This description is provided by the company.)

Ally Financial Inc. is a leading digital financial-services company with $182.2 billionin assets as of December 31, 2020. As a customer-centric company with passionate customer service and innovative financial solutions, it's relentlessly focused on 'Doing it Right' and being a trusted financial-services provider to its consumer, commercial, and corporate customers. It's one of the largest full-service automotive-finance operations in the country and offers a wide range of financial services and insurance products to automotive dealerships and consumers. Its award-winning online bank (Ally Bank, Member FDIC and Equal Housing Lender) offers mortgage lending, personal lending, and a variety of deposit and other banking products, including savings, money-market, and checking accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs). Additionally, it offer securities-brokerage and investment-advisory services through Ally Invest. Its robust corporate finance business offers capital for equity sponsors and middle-market companies.

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This story originally appeared on Fintel.

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