BTIG Research Lowers Ally Financial (NYSE:ALLY) to Neutral

BTIG Research lowered shares of Ally Financial (NYSE:ALLY) from a buy rating to a neutral rating in a research report released on Monday morning, Marketbeat.com reports.

ALLY has been the topic of a number of other reports. Citigroup assumed coverage on shares of Ally Financial in a research report on Monday, June 24th. They set a buy rating and a $50.00 price target on the stock. Morgan Stanley cut their price target on Ally Financial from $49.00 to $45.00 and set an overweight rating for the company in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on Ally Financial from $51.00 to $50.00 and set a buy rating on the stock in a research note on Monday, July 1st. Keefe, Bruyette & Woods upped their target price on Ally Financial from $45.00 to $48.00 and gave the company an outperform rating in a research report on Monday, July 8th. Finally, Wells Fargo & Company raised their price target on Ally Financial from $33.00 to $37.00 and gave the stock an underweight rating in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Ally Financial currently has a consensus rating of Hold and an average price target of $41.41.

Ally Financial Stock Performance

NYSE ALLY opened at $34.96 on Monday. The stock has a market cap of $10.63 billion, a PE ratio of 14.27, a P/E/G ratio of 0.32 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a 50-day moving average of $40.71 and a 200-day moving average of $39.63. Ally Financial has a 52-week low of $22.54 and a 52-week high of $45.46.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. On average, sell-side analysts anticipate that Ally Financial will post 3.51 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. Ally Financial’s dividend payout ratio is currently 48.98%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its stake in shares of Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 526 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Ally Financial during the 1st quarter worth about $28,000. Rise Advisors LLC bought a new stake in shares of Ally Financial in the 1st quarter valued at about $32,000. Quarry LP increased its stake in shares of Ally Financial by 165.7% in the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after buying an additional 598 shares during the period. Finally, SYSTM Wealth Solutions LLC raised its position in shares of Ally Financial by 571.7% during the first quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 789 shares during 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.