Ally Financial (NYSE:ALLY) posted its quarterly earnings data on Thursday. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09, Morningstar.com reports. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Ally Financial had a return on equity of 11.09% and a net margin of 26.59%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the company earned $0.83 EPS.
ALLY opened at $33.05 on Friday. The business’s fifty day moving average price is $30.52. The stock has a market cap of $13.30 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.66 and a beta of 1.31. Ally Financial has a 52 week low of $20.60 and a 52 week high of $33.92. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.11 and a quick ratio of 1.11.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.06%. Ally Financial’s payout ratio is 20.36%.
Several equities research analysts have recently issued reports on the company. BMO Capital Markets set a $44.00 price objective on Schlumberger and gave the company a “hold” rating in a research note on Monday, April 22nd. Nomura increased their price target on Ally Financial from $29.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday. Oppenheimer set a $119.00 price target on American Express and gave the stock a “buy” rating in a report on Wednesday, April 17th. Morgan Stanley downgraded Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a report on Monday, April 22nd. Finally, Citigroup set a $95.00 price target on iRobot and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $34.42.
Ally Financial announced that its Board of Directors has authorized a stock repurchase program on Monday, April 1st that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 10.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.80, for a total transaction of $63,993.60. Following the transaction, the chief accounting officer now directly owns 107,979 shares in the company, valued at approximately $3,109,795.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mayree C. Clark acquired 5,000 shares of Ally Financial stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $29.71 per share, for a total transaction of $148,550.00. Following the completion of the acquisition, the director now directly owns 46,248 shares in the company, valued at $1,374,028.08. The disclosure for this purchase can be found here. Insiders have sold a total of 6,666 shares of company stock worth $199,802 over the last 90 days. 0.35% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oaktree Capital Management LP increased its holdings in shares of Ally Financial by 34.6% in the 4th quarter. Oaktree Capital Management LP now owns 11,723,541 shares of the financial services provider’s stock valued at $265,655,000 after acquiring an additional 3,011,141 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ally Financial by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,022,630 shares of the financial services provider’s stock valued at $159,132,000 after acquiring an additional 39,461 shares during the period. Magnolia Group LLC increased its holdings in shares of Ally Financial by 30.5% in the 1st quarter. Magnolia Group LLC now owns 5,626,671 shares of the financial services provider’s stock valued at $154,677,000 after acquiring an additional 1,315,199 shares during the period. LSV Asset Management increased its holdings in shares of Ally Financial by 6.8% in the 1st quarter. LSV Asset Management now owns 4,961,122 shares of the financial services provider’s stock valued at $136,381,000 after acquiring an additional 314,600 shares during the period. Finally, Norges Bank purchased a new position in shares of Ally Financial in the 4th quarter valued at $109,098,000. Institutional investors own 97.04% of the company’s stock.
Ally Financial Company Profile
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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