Piper Sandler downgraded shares of Ally Financial (NYSE:ALLY – Get Rating) from a neutral rating to an underweight rating in a report published on Wednesday morning. They currently have $34.00 price objective on the financial services provider’s stock, down from their prior price objective of $45.00.
Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ally Financial from $70.00 to $55.00 in a research report on Wednesday, July 20th. Raymond James dropped their target price on shares of Ally Financial from $50.00 to $43.00 and set an outperform rating for the company in a report on Thursday, July 7th. Morgan Stanley dropped their target price on shares of Ally Financial from $44.00 to $41.00 and set an overweight rating for the company in a report on Wednesday, July 20th. Keefe, Bruyette & Woods decreased their price target on shares of Ally Financial from $63.00 to $47.00 in a research note on Monday, July 11th. Finally, Barclays decreased their target price on shares of Ally Financial from $68.00 to $56.00 and set an overweight rating on the stock in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $50.64.
Ally Financial Price Performance
Shares of ALLY opened at $32.58 on Wednesday. Ally Financial has a fifty-two week low of $31.66 and a fifty-two week high of $56.28. The firm’s 50 day moving average price is $35.32 and its 200 day moving average price is $41.20. The company has a market cap of $10.05 billion, a P/E ratio of 4.69, a PEG ratio of 0.14 and a beta of 1.33. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.46.
Ally Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be issued a $0.30 dividend. The ex-dividend date is Friday, July 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.68%. Ally Financial’s dividend payout ratio is 17.29%.
Hedge Funds Weigh In On Ally Financial
Large investors have recently made changes to their positions in the business. Verdence Capital Advisors LLC bought a new stake in Ally Financial during the first quarter worth approximately $212,000. Allworth Financial LP raised its stake in Ally Financial by 79.9% during the first quarter. Allworth Financial LP now owns 4,666 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 2,073 shares in the last quarter. CAPROCK Group Inc. raised its stake in Ally Financial by 25.6% during the first quarter. CAPROCK Group Inc. now owns 7,797 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 1,590 shares in the last quarter. Pendal Group Ltd grew its holdings in shares of Ally Financial by 47.9% during the first quarter. Pendal Group Ltd now owns 28,946 shares of the financial services provider’s stock worth $1,259,000 after purchasing an additional 9,379 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC grew its holdings in shares of Ally Financial by 141.5% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 362,275 shares of the financial services provider’s stock worth $17,248,000 after purchasing an additional 212,275 shares during the last quarter. Institutional investors and hedge funds own 94.42% of the company’s stock.
Ally Financial Company Profile
Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
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