Ally Financial (NYSE:ALLY) Given New $32.00 Price Target at Wells Fargo & Company

Ally Financial (NYSE:ALLY) had its price target decreased by Wells Fargo & Company from $37.00 to $32.00 in a research report report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America dropped their target price 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. Keefe, Bruyette & Woods reduced their price objective on shares of Ally Financial from $50.00 to $44.00 and set an outperform rating for the company in a research note on Monday, September 16th. Royal Bank of Canada reduced their price target on shares of Ally Financial from $49.00 to $40.00 and set an outperform rating for the company in a research report on Thursday, September 12th. Barclays reduced their price target on shares of Ally Financial from $44.00 to $36.00 and set an equal weight rating for the company in a research report on Thursday, September 12th. Finally, Citigroup assumed coverage on shares of Ally Financial in a report on Monday, June 24th. They set a buy rating and a $50.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Ally Financial currently has a consensus rating of Hold and a consensus target price of $41.38.

Ally Financial Price Performance

Shares of NYSE ALLY opened at $34.97 on Thursday. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $45.46. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.37 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’s 50-day simple moving average is $39.67 and its 200 day simple moving average is $39.54.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, research analysts anticipate that Ally Financial will post 3.15 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

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

Hedge Funds Weigh In On Ally Financial

Several hedge funds and other institutional investors have recently modified their holdings of ALLY. Boston Partners purchased a new stake in Ally Financial in the first quarter worth about $152,079,000. Scout Investments Inc. bought a new position in Ally Financial in the fourth quarter worth approximately $63,080,000. Jennison Associates LLC purchased a new stake in shares of Ally Financial in the first quarter worth $52,252,000. Delta Global Management LP increased its stake in shares of Ally Financial by 3,262.3% in 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. Finally, Dimensional Fund Advisors LP grew its stake in 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 acquiring an additional 987,489 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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.