Ally Financial (NYSE:ALLY) Downgraded by JPMorgan Chase & Co. to "Underweight"

JPMorgan Chase & Co. cut shares of Ally Financial (NYSE:ALLY - Free Report) from a neutral rating to an underweight rating in a research report sent to investors on Wednesday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $39.00 target price on the financial services provider's stock, up from their prior target price of $37.00.

Several other research firms have also issued reports on ALLY. Wells Fargo & Company boosted their target price on Ally Financial from $26.00 to $29.00 and gave the stock an underweight rating in a research report on Monday, January 22nd. The Goldman Sachs Group restated a buy rating on shares of Ally Financial in a research report on Thursday, February 1st. BMO Capital Markets boosted their target price on Ally Financial from $36.00 to $37.00 and gave the stock a market perform rating in a research report on Tuesday, January 23rd. TheStreet upgraded Ally Financial from a c+ rating to a b- rating in a report on Thursday, January 11th. Finally, Evercore ISI lifted their price objective on Ally Financial from $41.00 to $43.00 and gave the company an in-line rating in a report on Thursday, March 28th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $36.25.

Ally Financial Price Performance

Shares of NYSE ALLY traded up $0.03 during midday trading on Wednesday, reaching $39.05. 2,211,338 shares of the company traded hands, compared to its average volume of 3,995,561. The firm has a market cap of $11.78 billion, a PE ratio of 13.06 and a beta of 1.40. The stock's 50-day simple moving average is $37.41 and its 200-day simple moving average is $32.04. Ally Financial has a 12 month low of $22.54 and a 12 month high of $41.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Friday, January 19th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.01. Ally Financial had a return on equity of 9.41% and a net margin of 12.42%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the company posted $1.08 earnings per share. As a group, equities analysts anticipate that Ally Financial will post 3.09 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were issued a $0.30 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.07%. Ally Financial's payout ratio is currently 40.13%.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds have recently added to or reduced their stakes in ALLY. Kinneret Advisory LLC increased its holdings in shares of Ally Financial by 2.3% during the first quarter. Kinneret Advisory LLC now owns 11,700 shares of the financial services provider's stock valued at $509,000 after acquiring an additional 262 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Ally Financial by 2.6% during the first quarter. Blair William & Co. IL now owns 10,497 shares of the financial services provider's stock valued at $456,000 after acquiring an additional 264 shares in the last quarter. Trust Co. of Toledo NA OH increased its holdings in shares of Ally Financial by 1.8% during the fourth quarter. Trust Co. of Toledo NA OH now owns 17,335 shares of the financial services provider's stock valued at $605,000 after acquiring an additional 308 shares in the last quarter. WBI Investments LLC increased its holdings in shares of Ally Financial by 2.2% during the fourth quarter. WBI Investments LLC now owns 14,635 shares of the financial services provider's stock valued at $511,000 after acquiring an additional 316 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its holdings in shares of Ally Financial by 115.0% during the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 345 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Company Profile

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.