Ally Financial (NYSE:ALLY) Given New $41.00 Price Target at Morgan Stanley

Ally Financial (NYSE:ALLY) had its target price lowered by Morgan Stanley from $45.00 to $41.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research analysts also recently commented on the stock. Royal Bank of Canada cut their price target on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Barclays reduced their target price on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, September 12th. Evercore ISI lowered their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. TD Cowen cut their price objective on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Ally Financial currently has an average rating of “Hold” and a consensus target price of $40.38.

Ally Financial Stock Performance

NYSE:ALLY opened at $34.49 on Monday. The business’s fifty day moving average is $37.25 and its 200 day moving average is $39.04. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.42 and a beta of 1.39. 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 52-week low of $22.54 and a 52-week high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the business posted $0.83 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Research analysts predict that Ally Financial will post 2.87 EPS for the current year.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial’s dividend payout ratio is presently 48.98%.

Hedge Funds Weigh In On Ally Financial

Large investors have recently bought and sold shares of the stock. Fifth Third Bancorp grew its holdings in shares of Ally Financial by 1.2% in the second quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock worth $923,000 after purchasing an additional 278 shares during the last quarter. Signet Financial Management LLC grew its holdings in Ally Financial by 4.8% in the 1st quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 330 shares during the last quarter. Blue Trust Inc. increased its position in shares of Ally Financial by 8.2% in the third quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 352 shares during the period. Allworth Financial LP raised its stake in shares of Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 421 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Ally Financial by 39.7% in the second quarter. Versant Capital Management Inc now owns 1,630 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 463 shares during the last quarter. 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.