TD Cowen Cuts Ally Financial (NYSE:ALLY) Price Target to $54.00

Ally Financial (NYSE:ALLY) had its target price lowered by TD Cowen from $55.00 to $54.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also recently commented on ALLY. Weiss Ratings reissued a “buy (b)” rating on shares of Ally Financial in a research report on Friday, September 18th. Raymond James Financial lowered their target price on Ally Financial from $55.00 to $52.00 and set a “strong-buy” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $58.00 target price on shares of Ally Financial in a report on Wednesday, July 22nd. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Royal Bank Of Canada upped their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.43.

Ally Financial Stock Up 1.1%

NYSE:ALLY opened at $37.79 on Tuesday. The stock has a 50-day simple moving average of $41.61 and a 200 day simple moving average of $42.76. Ally Financial has a 52-week low of $35.92 and a 52-week high of $47.29. The company has a market cap of $11.49 billion, a PE ratio of 8.91, a PEG ratio of 0.24 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business earned $0.99 earnings per share. Ally Financial’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Ally Financial will post 5.05 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, July 31st. Ally Financial’s dividend payout ratio is 28.30%.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie Richard sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the sale, the insider owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This trade represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ally Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. SJS Investment Consulting Inc. boosted its position in shares of Ally Financial by 30.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 240 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Ally Financial by 3.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 243 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Ally Financial by 3.1% in the third quarter. Farther Finance Advisors LLC now owns 9,247 shares of the financial services provider’s stock valued at $348,000 after buying an additional 282 shares during the period. Arizona State Retirement System lifted its stake in Ally Financial by 0.4% in the second quarter. Arizona State Retirement System now owns 76,467 shares of the financial services provider’s stock valued at $3,514,000 after buying an additional 296 shares during the period. Finally, Waverly Advisors LLC boosted its holdings in shares of Ally Financial by 1.3% during the 2nd quarter. Waverly Advisors LLC now owns 23,749 shares of the financial services provider’s stock worth $1,091,000 after buying an additional 307 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Ally Financial Company Profile

Ally Financial Inc (NYSE:ALLY) is a digital financial-services company headquartered in Detroit, Michigan. Its principal businesses include automotive financing, consumer banking, commercial finance and other lending services, primarily serving customers and businesses in the United States.

Through Ally Auto, the company provides retail installment loans and leases for new and used vehicles, along with financing and related services for automotive dealers. Ally Bank offers online checking and savings accounts, money market accounts, certificates of deposit and other deposit products.