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Ally Financial (NYSE:ALLY) Releases Quarterly Earnings Results

Ally Financial logo with Finance background

Ally Financial (NYSE:ALLY - Get Free Report) issued its quarterly earnings data on Friday. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.21, Zacks reports. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 6.96% and a return on equity of 9.53%. The company's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 earnings per share.

Ally Financial Price Performance

Shares of Ally Financial stock traded down $0.92 during trading on Friday, reaching $39.32. 2,661,514 shares of the company's stock were exchanged, compared to its average volume of 3,760,321. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.90 and a current ratio of 0.90. Ally Financial has a 1-year low of $29.52 and a 1-year high of $45.46. The company has a market cap of $12.08 billion, a P/E ratio of 29.02, a PEG ratio of 0.38 and a beta of 1.15. The firm's 50-day moving average price is $37.23 and its 200 day moving average price is $36.09.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, August 1st. Ally Financial's dividend payout ratio is presently 88.24%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ALLY shares. Wells Fargo & Company cut their price objective on shares of Ally Financial from $34.00 to $32.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group boosted their price target on Ally Financial from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Bank of America decreased their price objective on Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a report on Monday, April 7th. BTIG Research raised Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Ally Financial in a research report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ally Financial currently has a consensus rating of "Hold" and a consensus price target of $42.67.

View Our Latest Report on Ally Financial

Insider Activity

In other Ally Financial news, CFO Russell E. Hutchinson bought 8,200 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were purchased at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the completion of the transaction, the chief financial officer directly owned 236,421 shares in the company, valued at approximately $7,284,131.01. The trade was a 3.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephanie N. Richard sold 8,000 shares of the firm's 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 completion of the sale, the insider owned 90,387 shares in the company, valued at approximately $2,905,038.18. The trade was a 8.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.67% of the company's stock.

Institutional Trading of Ally Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in shares of 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 buying an additional 129,497 shares during the period. Focus Partners Wealth bought a new stake in Ally Financial during the 1st quarter worth approximately $259,000. Empowered Funds LLC grew its holdings in Ally Financial by 11.1% during 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 during the last quarter. Finally, NewEdge Advisors LLC increased its position in Ally Financial by 22.8% in the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 415 shares during the period. Institutional investors and hedge funds own 88.76% of the company's stock.

About Ally Financial

(Get Free Report)

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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Earnings History for Ally Financial (NYSE:ALLY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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