Ally Financial (NYSE:ALLY) Trading Down 2.6% - Here's What Happened

Ally Financial Inc. (NYSE:ALLY - Get Free Report)'s share price dropped 2.6% on Friday . The company traded as low as $39.75 and last traded at $39.18. Approximately 632,119 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,753,434 shares. The stock had previously closed at $40.24.

Analysts Set New Price Targets

ALLY has been the topic of a number of recent analyst reports. Bank of America reduced their price objective on shares of Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. BTIG Research raised shares of Ally Financial from a "sell" rating to a "neutral" rating in a research report on Monday. Citigroup reissued a "buy" rating and issued a $59.00 price objective (up from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Morgan Stanley reissued an "overweight" rating and issued a $47.00 price objective (up from $39.00) on shares of Ally Financial in a research report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Ally Financial presently has an average rating of "Hold" and a consensus price target of $42.67.

Ally Financial Stock Performance

The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $12.07 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 0.38 and a beta of 1.15. The firm's fifty day moving average price is $37.23 and its 200 day moving average price is $36.09.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.78 by $0.21. The firm had revenue of $2.08 billion during 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%. Ally Financial's revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.97 EPS. Sell-side analysts expect that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.05%. Ally Financial's dividend payout ratio (DPR) is presently 88.24%.

Insider Activity at Ally Financial

In other Ally Financial news, CFO Russell E. Hutchinson acquired 8,200 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were acquired at an average cost of $30.81 per share, with a total value of $252,642.00. Following the acquisition, the chief financial officer directly owned 236,421 shares of the company's stock, valued at approximately $7,284,131.01. The trade was a 3.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stephanie N. Richard sold 8,000 shares of the company's stock in a transaction 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 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. 0.67% of the stock is currently owned by insiders.

Institutional Trading of Ally Financial

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in Ally Financial during the first quarter valued at $1,998,000. Teacher Retirement System of Texas purchased a new position in Ally Financial during the first quarter valued at $1,462,000. Bessemer Group Inc. lifted its holdings in Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 377 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Ally Financial by 56.3% during the first quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock valued at $2,466,000 after purchasing an additional 24,372 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Ally Financial by 40.6% during the first quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock valued at $120,000 after purchasing an additional 952 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other 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.

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