Ally Financial Inc., a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations. The Automotive Finance Operations segment offers automotive financing services, including providing retail installment sales contracts, loans and operating leases, term loans to dealers, financing dealer floorplans and other lines of credit to dealers, warehouse lines to automotive retailers, and fleet financing. It also provides financing services to companies and municipalities for the purchase or lease of vehicles, and vehicle-remarketing services. The Insurance Operations segment offers consumer finance protection and insurance products through the automotive dealer channel, and commercial insurance products directly to dealers. This segment provides vehicle service and maintenance contract, and guaranteed asset protection products; and underwrites commercial insurance coverages, which primarily insure dealers' vehicle inventory. The Mortgage Finance Operations segment manages consumer mortgage loan portfolio that includes bulk purchases of jumbo and low-to-moderate income mortgage loans originated by third parties, as well as direct-to-consumer mortgage offerings. The Corporate Finance Operations segment provides senior secured leveraged cash flow and asset-based loans to middle market companies; leveraged loans; and commercial real estate product to serve companies in the healthcare industry. The company also offers commercial banking products and services. In addition, it provides securities brokerage and investment advisory services. The company was formerly known as GMAC Inc. and changed its name to Ally Financial Inc. in May 2010. Ally Financial Inc. was founded in 1919 and is based in Detroit, Michigan.
Analyst Ratings Changes
A number of equities research analysts have recently commented on ALLY shares. Wells Fargo & Company dropped their price target on Ally Financial from $57.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, April 18th. Morgan Stanley dropped their price target on Ally Financial from $44.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 20th. Credit Suisse Group dropped their price target on Ally Financial to $55.00 in a research report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on Ally Financial from $70.00 to $55.00 in a research report on Wednesday, July 20th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $50.00 target price on shares of Ally Financial in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.64.
Ally Financial Stock Down 0.5 %
Shares of NYSE:ALLY traded down $0.18 during trading on Friday, hitting $32.58. 2,764,812 shares of the company were exchanged, compared to its average volume of 3,669,815. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 4.69, a P/E/G ratio of 0.14 and a beta of 1.33. Ally Financial has a fifty-two week low of $31.66 and a fifty-two week high of $56.28. The firm has a fifty day moving average price of $35.32 and a two-hundred day moving average price of $41.15. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.46.
Ally Financial (NYSE:ALLY - Get Rating) last posted its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $1.76 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.19). Ally Financial had a return on equity of 20.99% and a net margin of 29.79%. During the same period last year, the business posted $2.33 EPS. As a group, research analysts anticipate that Ally Financial will post 7.36 earnings per share for the current fiscal year.
Ally Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, July 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.68%. Ally Financial's dividend payout ratio is currently 17.29%.