Ally Financial (NYSE:ALLY) Downgraded by BTIG Research

BTIG Research cut shares of Ally Financial (NYSE:ALLY) from a buy rating to a neutral rating in a research report report published on Monday morning, Marketbeat.com reports.

ALLY has been the subject of several other research reports. Bank of America lowered their price objective on Ally Financial from $46.00 to $37.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Evercore ISI increased their price target on Ally Financial from $43.00 to $45.00 and gave the stock an in-line rating in a report on Tuesday, June 25th. Barclays lowered their target price on Ally Financial from $44.00 to $36.00 and set an equal weight rating on the stock in a research report on Thursday, September 12th. Morgan Stanley lowered their price target on Ally Financial from $49.00 to $45.00 and set an overweight rating for the company in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised Ally Financial from an underweight rating to a neutral rating and increased their price target for the company from $39.00 to $45.00 in a research report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $41.41.

Ally Financial Price Performance

NYSE:ALLY opened at $34.05 on Monday. Ally Financial has a 1-year low of $22.54 and a 1-year high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm has a fifty day simple moving average of $40.86 and a 200 day simple moving average of $39.66. The stock has a market capitalization of $10.35 billion, a PE ratio of 13.90, a P/E/G ratio of 0.32 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. Ally Financial’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 earnings per share. On average, research analysts expect that Ally Financial will post 3.51 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Thursday, August 1st. Ally Financial’s dividend payout ratio (DPR) is 48.98%.

Hedge Funds Weigh In On Ally Financial

A number of institutional investors and hedge funds have recently modified their holdings of ALLY. Boston Partners bought a new stake in Ally Financial during the 1st quarter valued at $152,079,000. Scout Investments Inc. bought a new stake in Ally Financial during the 4th quarter valued at $63,080,000. Norges Bank bought a new stake in Ally Financial during the 4th quarter valued at $62,869,000. Jennison Associates LLC bought a new stake in Ally Financial during the 1st quarter valued at $52,252,000. Finally, Delta Global Management LP raised its position in Ally Financial by 3,262.3% during the 1st quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock valued at $42,051,000 after purchasing an additional 1,005,182 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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.