Ally Financial (NYSE:ALLY) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Ally Financial (NYSE:ALLY) from a sell rating to a hold rating in a research note released on Saturday.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. Bank of America decreased their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft dropped their price target on Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, July 1st. TD Cowen decreased their price objective on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Finally, Citigroup assumed coverage on shares of Ally Financial in a research note on Monday, June 24th. They issued a “buy” rating and a $50.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Ally Financial has an average rating of “Hold” and an average price target of $40.63.

Ally Financial Stock Down 2.3 %

Shares of NYSE ALLY opened at $35.01 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a market cap of $10.64 billion, a P/E ratio of 14.29, a P/E/G ratio of 0.42 and a beta of 1.39. Ally Financial has a 52 week low of $22.54 and a 52 week high of $45.46. The business has a 50-day simple moving average of $37.62 and a two-hundred day simple moving average of $39.12.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. Ally Financial’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.83 earnings per share. Research analysts anticipate that Ally Financial will post 2.87 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial’s dividend payout ratio is presently 48.98%.

Hedge Funds Weigh In On Ally Financial

Large investors have recently bought and sold shares of the stock. Boston Partners purchased a new position in shares of Ally Financial in the first quarter worth $152,079,000. Jennison Associates LLC purchased a new position in shares of Ally Financial in the first quarter valued at about $52,252,000. Wedge Capital Management L L P NC raised its stake in shares of Ally Financial by 584.7% during the third quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock valued at $49,659,000 after acquiring an additional 1,191,529 shares during the last quarter. Delta Global Management LP raised its stake in shares of 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 valued at $42,051,000 after acquiring an additional 1,005,182 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of 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 worth $384,715,000 after purchasing an additional 987,489 shares during the period. 88.76% of the stock is 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.