Ally Financial (NYSE:ALLY) Price Target Lowered to $45.00 at Morgan Stanley

Ally Financial (NYSE:ALLY) had its target price cut by Morgan Stanley from $49.00 to $45.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research firms have also recently commented on ALLY. Wells Fargo & Company upped their target price on shares of Ally Financial from $33.00 to $37.00 and gave the stock an underweight rating in a research report on Thursday, July 18th. BTIG Research assumed coverage on shares of Ally Financial in a research report on Friday, June 7th. They issued a buy rating and a $51.00 price target for the company. Barclays upped their price target on shares of Ally Financial from $43.00 to $44.00 and gave the company an equal weight rating in a research report on Thursday, July 18th. Evercore ISI upped their price objective on shares of Ally Financial from $43.00 to $45.00 and gave the company an in-line rating in a research note on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Ally Financial from $51.00 to $50.00 and set a buy rating on the stock in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $42.65.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $32.87 on Wednesday. The firm has a market cap of $9.99 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.38 and a beta of 1.41. The firm’s 50-day simple moving average is $41.58 and its 200-day simple moving average is $39.77. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. Ally Financial has a 1 year low of $22.54 and a 1 year high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts forecast that Ally Financial will post 3.51 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders 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 3.65%. Ally Financial’s dividend payout ratio is 48.98%.

Institutional Trading of Ally Financial

Several hedge funds and other institutional investors have recently bought and sold shares of ALLY. Allspring Global Investments Holdings LLC boosted its position in shares of Ally Financial by 510.7% during the 2nd 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 in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Ally Financial during the 1st quarter valued at about $28,000. Rise Advisors LLC acquired a new stake in shares of Ally Financial during the 1st quarter valued at about $32,000. SYSTM Wealth Solutions LLC boosted its position in shares of Ally Financial by 571.7% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 789 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Ally Financial by 165.7% during the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 598 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

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.