Ally Financial (NYSE:ALLY) Rating Increased to Neutral at BTIG Research

BTIG Research upgraded shares of Ally Financial (NYSE:ALLY) from a sell rating to a neutral rating in a research report released on Monday, MarketBeat.com reports.

ALLY has been the subject of a number of other research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $47.00 price objective (up previously from $39.00) on shares of Ally Financial in a research report on Thursday. The Goldman Sachs Group upped their price objective on shares of Ally Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Wall Street Zen raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. increased their price target on shares of Ally Financial from $36.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of Ally Financial in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.67.

Ally Financial Trading Up 0.5%

Shares of NYSE:ALLY opened at $40.65 on Monday. The stock has a market capitalization of $12.49 billion, a PE ratio of 29.89, a P/E/G ratio of 0.38 and a beta of 1.15. Ally Financial has a 1 year low of $29.52 and a 1 year high of $45.46. The firm has a fifty day moving average price of $36.82 and a 200 day moving average price of $36.02. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.38.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.15. Ally Financial had a net margin of 6.96% and a return on equity of 9.53%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the company posted $0.45 earnings per share. Analysts expect that Ally Financial will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.20 annualized dividend and a yield of 2.95%. Ally Financial’s dividend payout ratio (DPR) is presently 88.24%.

Insider Buying and Selling

In other Ally Financial news, insider Stephanie N. Richard sold 8,000 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total transaction of $257,120.00. Following the sale, the insider owned 90,387 shares of the company’s stock, valued at approximately $2,905,038.18. The trade was a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Russell E. Hutchinson bought 8,200 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The shares were bought at an average cost of $30.81 per share, for a total transaction of $252,642.00. Following the purchase, the chief financial officer owned 236,421 shares of the company’s stock, valued at approximately $7,284,131.01. The trade was a 3.59% increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ally Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of Ally Financial during the first quarter valued at about $253,881,000. Millennium Management LLC boosted its position in shares of Ally Financial by 234.7% during the 1st quarter. Millennium Management LLC now owns 3,752,066 shares of the financial services provider’s stock worth $136,838,000 after purchasing an additional 2,630,981 shares in the last quarter. Norges Bank bought a new position in shares of Ally Financial during the 4th quarter worth about $75,483,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Ally Financial by 84.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider’s stock worth $151,320,000 after purchasing an additional 1,918,965 shares in the last quarter. Finally, Phoenix Financial Ltd. boosted its position in shares of Ally Financial by 86.4% during the 4th quarter. Phoenix Financial Ltd. now owns 3,390,066 shares of the financial services provider’s stock worth $122,077,000 after purchasing an additional 1,571,027 shares in the last quarter. Institutional investors and hedge funds 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.