Piper Sandler Lowers Ally Financial (NYSE:ALLY) to Underweight

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 (NYSE:ALLY – Get Rating) last announced its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.19). Ally Financial had a net margin of 29.79% and a return on equity of 20.99%. During the same quarter in the previous year, the company earned $2.33 earnings per share. On average, research analysts forecast that Ally Financial will post 7.36 earnings per share for the current fiscal year.

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

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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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