Ally Financial (NYSE:ALLY) released its quarterly earnings results on Monday. The financial services provider reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.88, MarketWatch Earnings reports. Ally Financial had a net margin of 30.51% and a return on equity of 14.64%. During the same period in the prior year, the business earned $0.61 earnings per share.
Shares of Ally Financial stock traded up $1.62 during trading on Wednesday, hitting $52.52. The company's stock had a trading volume of 3,461,727 shares, compared to its average volume of 4,074,443. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.90 and a current ratio of 0.90. Ally Financial has a 52 week low of $19.86 and a 52 week high of $56.61. The stock has a market capitalization of $19.47 billion, a PE ratio of 9.01 and a beta of 1.59. The firm's 50-day moving average is $52.23.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Investors of record on Monday, August 2nd will be paid a $0.25 dividend. This is a boost from Ally Financial's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, July 30th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Ally Financial's payout ratio is currently 25.08%.
In other Ally Financial news, insider Douglas R. Timmerman sold 2,917 shares of the company's stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $52.03, for a total transaction of $151,771.51. Following the sale, the insider now owns 104,891 shares of the company's stock, valued at $5,457,478.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason E. Schugel sold 2,500 shares of the company's stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $55.30, for a total transaction of $138,250.00. Following the sale, the insider now directly owns 146,856 shares in the company, valued at approximately $8,121,136.80. The disclosure for this sale can be found here. In the last three months, insiders sold 29,584 shares of company stock worth $1,580,122. 0.46% of the stock is currently owned by insiders.
Several research analysts have commented on the stock. Evercore ISI assumed coverage on shares of Ally Financial in a research report on Wednesday, April 14th. They set an "outperform" rating and a $55.00 price objective for the company. Barclays boosted their price objective on shares of Ally Financial from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Ally Financial from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday. Bank of America assumed coverage on shares of Ally Financial in a research report on Monday, April 12th. They set a "buy" rating and a $64.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on shares of Ally Financial in a report on Tuesday, July 6th. They set a "buy" rating and a $70.00 price target for the company. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of "Buy" and a consensus price target of $52.59.
Ally Financial Company Profile
Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
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