Ally Financial (NYSE:ALLY) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Ally Financial (NYSE:ALLY - Free Report) in a research note published on Monday morning, Benzinga reports. They currently have a $40.00 target price on the financial services provider's stock.

Other analysts also recently issued research reports about the company. Barclays reduced their price objective on Ally Financial from $44.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 12th. Evercore ISI reduced their price objective on Ally Financial from $47.00 to $38.00 and set an "in-line" rating on the stock in a research note on Monday, October 7th. Keefe, Bruyette & Woods cut their target price on Ally Financial from $50.00 to $44.00 and set an "outperform" rating on the stock in a research report on Monday, September 16th. StockNews.com raised Ally Financial from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Bank of America cut their target price on Ally Financial from $46.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Ally Financial has an average rating of "Hold" and a consensus target price of $40.38.

Ally Financial Stock Performance

Shares of ALLY stock traded down $0.34 during trading hours on Monday, reaching $34.67. 5,434,014 shares of the company traded hands, compared to its average volume of 3,540,149. Ally Financial has a 12-month low of $22.54 and a 12-month high of $45.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $10.54 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.42 and a beta of 1.39. The firm has a 50-day moving average price of $37.51 and a 200 day moving average price of $39.10.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the previous year, the firm earned $0.83 EPS. The business's quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Ally Financial will post 2.87 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, November 1st. Ally Financial's dividend payout ratio is 48.98%.

Institutional Investors Weigh In On Ally Financial

Several hedge funds have recently made changes to their positions in ALLY. Boston Partners purchased a new stake in shares of Ally Financial during the 1st quarter worth $152,079,000. Jennison Associates LLC purchased a new stake in shares of Ally Financial during the 1st quarter worth $52,252,000. Wedge Capital Management L L P NC lifted its stake in shares of Ally Financial by 584.7% during 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 purchasing an additional 1,191,529 shares during the last quarter. Delta Global Management LP lifted its stake in shares of 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 worth $42,051,000 after purchasing an additional 1,005,182 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Ally Financial by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider's stock worth $384,715,000 after purchasing an additional 987,489 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Company Profile

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.