Ally Financial (NYSE:ALLY) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Ally Financial Inc. (NYSE:ALLY)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $38.29 and traded as low as $35.59. Ally Financial shares last traded at $35.76, with a volume of 2,466,043 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on ALLY. Keefe, Bruyette & Woods raised their price target on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Citigroup raised their target price on shares of Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Evercore ISI cut their price target on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday, October 7th. Bank of America lowered their price objective on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, TD Cowen reduced their target price on Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.14.

Ally Financial Stock Performance

The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $10.92 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.46 and a beta of 1.42. The business has a 50 day moving average price of $36.84 and a two-hundred day moving average price of $38.26.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that Ally Financial Inc. will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.35%. Ally Financial’s dividend payout ratio is presently 48.00%.

Hedge Funds Weigh In On Ally Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its position in Ally Financial by 0.5% during the 3rd quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock valued at $380,981,000 after purchasing an additional 51,426 shares during the period. Dimensional Fund Advisors LP increased its position 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 valued at $384,715,000 after buying an additional 987,489 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Ally Financial by 217.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock worth $81,260,000 after buying an additional 1,563,008 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Ally Financial by 19.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,106,589 shares of the financial services provider’s stock worth $74,974,000 after buying an additional 344,543 shares during the period. Finally, Jennison Associates LLC boosted its position in Ally Financial by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 1,672,812 shares of the financial services provider’s stock valued at $59,535,000 after acquiring an additional 75,080 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

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.