Ally Financial Inc. (NYSE:ALLY) Declares Quarterly Dividend of $0.30

Ally Financial Inc. (NYSE:ALLY - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Stockholders of record on Friday, August 1st will be paid a dividend of 0.30 per share by the financial services provider on Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.05%.

Ally Financial has a dividend payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ally Financial to earn $5.47 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 21.9%.

Ally Financial Stock Up 0.8%

Shares of ALLY traded up $0.31 during mid-day trading on Wednesday, hitting $39.35. 2,561,617 shares of the company's stock were exchanged, compared to its average volume of 3,775,736. Ally Financial has a twelve month low of $29.52 and a twelve month high of $45.46. The firm has a fifty day moving average of $37.09 and a two-hundred day moving average of $36.06. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.38. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 0.37 and a beta of 1.15.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.15. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $2.04 billion. Ally Financial had a net margin of 6.96% and a return on equity of 9.53%. During the same period last year, the business posted $0.45 EPS. On average, sell-side analysts forecast that Ally Financial will post 3.57 earnings per share for the current year.

Insider Activity at Ally Financial

In related news, CFO Russell E. Hutchinson purchased 8,200 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were bought at an average cost of $30.81 per share, with a total value of $252,642.00. Following the acquisition, the chief financial officer owned 236,421 shares of the company's stock, valued at $7,284,131.01. This trade represents a 3.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephanie N. Richard sold 8,000 shares of Ally Financial stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total transaction of $257,120.00. Following the sale, the insider directly owned 90,387 shares in the company, valued at $2,905,038.18. This trade represents a 8.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its stake in Ally Financial by 106.5% in the first quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider's stock valued at $9,158,000 after purchasing an additional 129,497 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Ally Financial by 22.8% in the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider's stock worth $82,000 after acquiring an additional 415 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Ally Financial by 11.1% in the 1st quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider's stock worth $470,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Ally Financial in the 1st quarter worth $259,000. Institutional investors and hedge funds own 88.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BTIG Research raised shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday. Citigroup reiterated a "buy" rating and set a $59.00 price target (up previously from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Royal Bank Of Canada restated an "outperform" rating on shares of Ally Financial in a report on Monday. Truist Financial boosted their price objective on shares of Ally Financial from $41.00 to $44.00 and gave the company a "buy" rating in a report on Friday, June 13th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $47.00 price target (up previously from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $42.67.

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.

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