Ally Financial (NYSE:ALLY) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Ally Financial Inc. (NYSE:ALLY) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $38.29 and traded as low as $35.59. Ally Financial shares last traded at $35.76, with a volume of 2,466,043 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALLY shares. Bank of America reduced their target price on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Wolfe Research cut shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Citigroup lifted their target price on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their price target on Ally Financial from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Ally Financial from $44.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Ally Financial currently has an average rating of “Hold” and a consensus target price of $42.14.

Ally Financial Stock Performance

The company’s 50-day simple moving average is $36.84 and its 200 day simple moving average is $38.26. The stock has a market cap of $10.92 billion, a P/E ratio of 14.34, a PEG ratio of 0.46 and a beta of 1.42. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36.

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

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.35%. Ally Financial’s dividend payout ratio is presently 48.00%.

Hedge Funds Weigh In On Ally Financial

Large investors have recently modified their holdings of the business. State Street Corp lifted its holdings in Ally Financial by 0.5% during the 3rd quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock worth $380,981,000 after purchasing an additional 51,426 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ally Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after buying an additional 987,489 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Ally Financial by 217.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock valued at $81,260,000 after acquiring an additional 1,563,008 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ally Financial by 19.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,106,589 shares of the financial services provider’s stock valued at $74,974,000 after acquiring an additional 344,543 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Ally Financial by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 1,672,812 shares of the financial services provider’s stock worth $59,535,000 after acquiring an additional 75,080 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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.