5 Affordable Blue Chip Stocks To Buy Now

In this article, we discuss the 5 affordable blue chip stocks to buy now. If you want to read our detailed analysis of blue chip stocks and the current market situation, go directly to 10 Affordable Blue Chip Stocks To Buy Now.

Ally Financial Inc. (NYSE:ALLY) is a digital financial services company which offers banking, investing and loan services related to mortgages, auto finance, and corporate finance.

Raymond James analyst David Long on April 18 lowered the firm’s price target on Ally Financial Inc. (NYSE:ALLY) to $50 from $57 and maintained an ‘Outperform’ rating on the company shares. Although Q1 results were “mixed” on account of lower fee income and elevated operating expenses, the analyst is pleased with the firm’s strong loan growth, net interest margin expansion, and capital return. Ally Financial Inc. (NYSE:ALLY) has grown its dividend payout for 5 years in a row, with a 3.52% yield as of June 14.

For the quarter ending March, Ally Financial Inc.’s (NYSE:ALLY) revenue stood at $2.14 billion, above estimates by $2.97 million. EPS of $2.03 also outperformed estimates by $0.10. 

Out of the 900+ hedge funds in the database of Insider Monkey, Ally Financial Inc. (NYSE:ALLY) stock was reported in the portfolios of 49 hedge funds at the end of the first quarter, as compared to 48 hedge funds a quarter ago. The aggregate value of the Q1 hedge fund holdings stood at $2.43 billion. Berkshire Hathaway initiated a $390 million position in Ally Financial Inc. (NYSE:ALLY) in the first quarter, making it the firm’s second largest shareholder behind Harris Associates, which held a $1.15 billion stake in the company.