Ally Financial (NYSE:ALLY) Rating Lowered to “Peer Perform” at Wolfe Research

Wolfe Research cut shares of Ally Financial (NYSE:ALLY) from an outperform rating to a peer perform rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports.

Other analysts have also recently issued research reports about the company. Evercore ISI cut their target price on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research report on Monday, October 7th. TD Cowen cut their price target on Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective on shares of Ally Financial in a report on Monday, October 21st. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company decreased their price target on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.80.

Ally Financial Stock Performance

Shares of ALLY opened at $38.55 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. Ally Financial has a 52-week low of $29.05 and a 52-week high of $45.46. The stock has a 50 day moving average price of $36.33 and a 200 day moving average price of $38.59. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 0.46 and a beta of 1.42.

Ally Financial (NYSE:ALLY) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $0.83 EPS. The company’s revenue was up 6.9% on a year-over-year basis. Research analysts predict that Ally Financial will post 3 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Friday, November 1st. Ally Financial’s dividend payout ratio is presently 48.00%.

Hedge Funds Weigh In On Ally Financial

A number of large investors have recently modified their holdings of ALLY. CWM LLC grew its stake in shares of Ally Financial by 10.3% during the 2nd quarter. CWM LLC now owns 8,395 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 782 shares during the period. QRG Capital Management Inc. grew its position in Ally Financial by 3.2% during the second quarter. QRG Capital Management Inc. now owns 102,236 shares of the financial services provider’s stock worth $4,056,000 after buying an additional 3,218 shares during the period. SG Americas Securities LLC increased its holdings in Ally Financial by 33.6% in the second quarter. SG Americas Securities LLC now owns 164,786 shares of the financial services provider’s stock valued at $6,537,000 after buying an additional 41,413 shares in the last quarter. Asset Management Advisors LLC lifted its position in shares of Ally Financial by 1.2% during the 2nd quarter. Asset Management Advisors LLC now owns 165,599 shares of the financial services provider’s stock valued at $6,569,000 after acquiring an additional 1,889 shares during the period. Finally, First Community Trust NA purchased a new stake in shares of Ally Financial during the 2nd quarter worth approximately $53,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

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.