StockNews.com downgraded shares of Ally Financial (NYSE:ALLY - Free Report) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.
Several other equities research analysts have also recently weighed in on ALLY. Wolfe Research cut Ally Financial from an "outperform" rating to a "peer perform" rating in a research report on Thursday, December 5th. Barclays boosted their price target on shares of Ally Financial from $36.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Raymond James raised Ally Financial from an "underperform" rating to a "market perform" rating in a research note on Monday, October 21st. Citigroup raised their target price on Ally Financial from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 price target on shares of Ally Financial in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $43.47.
Read Our Latest Stock Report on ALLY
Ally Financial Stock Up 1.2 %
Shares of NYSE ALLY traded up $0.47 during mid-day trading on Thursday, reaching $40.12. The company had a trading volume of 5,699,922 shares, compared to its average volume of 4,212,100. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial has a twelve month low of $31.95 and a twelve month high of $45.46. The stock's 50 day moving average is $36.92 and its 200-day moving average is $37.93. The stock has a market capitalization of $12.22 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44.
Ally Financial (NYSE:ALLY - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.57 by $0.21. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2,021,808.41 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Ally Financial will post 2.96 earnings per share for the current fiscal year.
Ally Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.99%. Ally Financial's dividend payout ratio is currently 48.00%.
Institutional Investors Weigh In On Ally Financial
Hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in Ally Financial by 36.1% during the second quarter. Envestnet Asset Management Inc. now owns 81,592 shares of the financial services provider's stock worth $3,237,000 after purchasing an additional 21,622 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Ally Financial by 86.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,527 shares of the financial services provider's stock worth $140,000 after buying an additional 1,632 shares during the period. Xponance Inc. boosted its holdings in Ally Financial by 1.4% in the 2nd quarter. Xponance Inc. now owns 45,505 shares of the financial services provider's stock worth $1,805,000 after buying an additional 640 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Ally Financial by 63.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 52,423 shares of the financial services provider's stock valued at $2,080,000 after buying an additional 20,261 shares in the last quarter. Finally, Caxton Associates LP bought a new stake in Ally Financial during the 2nd quarter valued at $760,000. 88.76% of the stock is currently owned by institutional investors.
About Ally Financial
(
Get Free Report)
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.
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