Ally Financial (NYSE:ALLY) Posts Earnings Results

Ally Financial (NYSE:ALLY) announced its earnings results on Thursday. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12, Briefing.com reports. Ally Financial had a net margin of 12.42% and a return on equity of 9.41%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis.

Ally Financial Trading Up 6.7 %

Shares of ALLY stock opened at $38.71 on Friday. The firm’s 50 day moving average is $37.65 and its 200 day moving average is $32.82. The stock has a market capitalization of $11.77 billion, a P/E ratio of 12.95, a P/E/G ratio of 0.53 and a beta of 1.40. Ally Financial has a 12-month low of $22.54 and a 12-month high of $41.56. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio is currently 40.13%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Ally Financial in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Ally Financial in a research report on Wednesday, January 10th. They set a “buy” rating and a $47.00 price target for the company. JPMorgan Chase & Co. downgraded shares of Ally Financial from a “neutral” rating to an “underweight” rating and raised their price target for the company from $37.00 to $39.00 in a research report on Wednesday, April 3rd. BMO Capital Markets raised their price target on shares of Ally Financial from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday. Finally, TheStreet raised shares of Ally Financial from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.59.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sessa Capital IM L.P. boosted its stake in shares of Ally Financial by 426.5% during the 1st quarter. Sessa Capital IM L.P. now owns 9,493,106 shares of the financial services provider’s stock worth $241,979,000 after acquiring an additional 7,689,915 shares during the last quarter. State Street Corp boosted its stake in shares of Ally Financial by 3.3% during the 1st quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock worth $380,424,000 after acquiring an additional 281,795 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ally Financial by 18.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,343,564 shares of the financial services provider’s stock worth $212,677,000 after acquiring an additional 1,281,000 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Ally Financial by 195.1% during the 4th quarter. Millennium Management LLC now owns 6,058,768 shares of the financial services provider’s stock worth $148,137,000 after acquiring an additional 4,005,417 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Ally Financial by 5.6% during the 1st quarter. Royal Bank of Canada now owns 6,035,703 shares of the financial services provider’s stock worth $262,433,000 after acquiring an additional 320,049 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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.