Ally Financial (NYSE:ALLY) Downgraded to Neutral at BTIG Research

BTIG Research downgraded shares of Ally Financial (NYSE:ALLY) from a buy rating to a neutral rating in a research note released on Monday morning, MarketBeat Ratings reports.

Several other research firms also recently weighed in on ALLY. Morgan Stanley dropped their price target on Ally Financial from $49.00 to $45.00 and set an overweight rating on the stock in a research note on Wednesday, September 11th. Citigroup initiated coverage on Ally Financial in a report on Monday, June 24th. They issued a buy rating and a $50.00 price objective for the company. Keefe, Bruyette & Woods boosted their price objective on Ally Financial from $45.00 to $48.00 and gave the company an outperform rating in a report on Monday, July 8th. Royal Bank of Canada decreased their price objective on Ally Financial from $49.00 to $40.00 and set an outperform rating for the company in a report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Ally Financial from $51.00 to $50.00 and set a buy rating for the company in a report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ally Financial presently has an average rating of Hold and a consensus price target of $41.41.

Ally Financial Stock Up 0.9 %

Shares of ALLY stock 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 stock’s fifty day moving average price is $40.86 and its 200 day moving average price is $39.66. 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 $10.35 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth 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 for the quarter, topping the consensus estimate of $0.64 by $0.33. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 EPS. On average, research analysts expect that Ally Financial will post 3.51 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 3.52%. Ally Financial’s payout ratio is 48.98%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALLY. Boston Partners purchased a new position in Ally Financial in the first quarter worth approximately $152,079,000. Scout Investments Inc. acquired a new position in Ally Financial during the fourth quarter worth $63,080,000. Norges Bank acquired a new position in Ally Financial during the fourth quarter worth $62,869,000. Jennison Associates LLC acquired a new position in Ally Financial during the first quarter worth $52,252,000. Finally, Delta Global Management LP lifted its stake in Ally Financial by 3,262.3% during the first 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 in the last quarter. 88.76% of the stock is currently owned by hedge funds and other 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.