Ally Financial (NYSE:ALLY) Price Target Cut to $41.00

Ally Financial (NYSE:ALLY) had its price target lowered by Morgan Stanley from $45.00 to $41.00 in a research report released on Monday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also issued reports on ALLY. Barclays cut their price target on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, September 12th. Royal Bank of Canada cut their target price on Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Keefe, Bruyette & Woods lowered their price objective on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price objective on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ally Financial currently has an average rating of “Hold” and a consensus price target of $40.38.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $34.49 on Monday. The business has a 50-day moving average price of $37.25 and a two-hundred day moving average price of $39.04. 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 company has a market cap of $10.48 billion, a P/E ratio of 14.08, a PEG ratio of 0.42 and a beta of 1.39.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the firm posted $0.83 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Ally Financial will post 2.87 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.30 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.48%. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds have recently made changes to their positions in ALLY. Boston Partners purchased a new position in Ally Financial in the first quarter valued at approximately $152,079,000. Jennison Associates LLC purchased a new position in shares of Ally Financial during the 1st quarter valued at $52,252,000. Wedge Capital Management L L P NC increased its holdings in Ally Financial by 584.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock worth $49,659,000 after acquiring an additional 1,191,529 shares during the last quarter. Delta Global Management LP raised its stake in Ally Financial by 3,262.3% in 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 acquiring an additional 1,005,182 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Ally Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after purchasing an additional 987,489 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors.

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.