Raymond James Upgrades Ally Financial: Analysts Project Strong Growth Ahead
Fintel reported on October 21, 2024, that Raymond James has improved its outlook for Ally Financial (DB:GMZ) from Underperform to Market Perform.
As of July 24, 2024, analysts set the average one-year price target for Ally Financial at 42.19 €/share, with estimates ranging from a low of 21.38 € to a high of 50.78 €. This average price target suggests potential growth of 30.53% from its latest closing price of 32.32 € / share.
Impressive Revenue Projections
Ally Financial’s projected annual revenue stands at 9,377 million euros, reflecting an increase of 38.63%. The anticipated annual non-GAAP earnings per share (EPS) is 5.33.
Fund Sentiment Reflects Growing Confidence
In total, 1,102 funds and institutions hold positions in Ally Financial, marking an increase of 59, or 5.66%, in the last quarter. The average portfolio weight of all funds allocated to GMZ is 0.23%, which is up by 16.55%. Overall, institutional ownership saw a 2.55% rise in the last three months, totaling 318,599K shares.
Berkshire Hathaway maintains 29,000K shares, accounting for 9.52% of Ally Financial, with no changes in the last quarter.
Harris Associates L P owns 20,650K shares, equivalent to 6.78% ownership; this represents a decrease from 21,078K shares previously reported, marking a reduction of 2.07%. Their portfolio allocation in GMZ has also decreased by 2.05% over the past quarter.
The Oakmark Fund Investor Class (OAKMX) holds 11,959K shares, maintaining 3.93% ownership without any recent changes.
The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) has increased its stake from 8,629K to 8,645K shares, now representing 2.84% ownership, albeit with a slight decrease in portfolio allocation in GMZ by 4.77% over the last quarter.
iShares Core S&P Mid-Cap ETF (IJH) has also seen minor growth, raising its shares from 8,452K to 8,510K, which is a 2.79% stake and an increase of 0.68%. The firm’s allocation in GMZ rose by 0.73% in the last quarter.
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This story originally appeared on Fintel.
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Nasdaq, Inc.
