Ally Financial (NYSE:ALLY) Releases Earnings Results, Misses Estimates By $0.03 EPS

Ally Financial (NYSE:ALLY) released its quarterly earnings results on Tuesday. The financial services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.03), FiscalAI reports. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $45.48 on Tuesday. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 0.26 and a beta of 1.09. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93. The business’s 50 day simple moving average is $44.15 and its 200-day simple moving average is $42.64. Ally Financial has a 12 month low of $35.92 and a 12 month high of $47.29.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. Ally Financial’s payout ratio is 29.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ALLY shares. Bank of America lifted their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. dropped their price objective on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Royal Bank Of Canada raised their target price on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Citigroup lowered their target price on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.79.

Insider Transactions at Ally Financial

In related news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction on Friday, May 15th. The stock was sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the transaction, the insider directly owned 93,927 shares of the company’s stock, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALLY. Compound Planning Inc. lifted its holdings in shares of Ally Financial by 13.6% in the fourth quarter. Compound Planning Inc. now owns 7,572 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 907 shares in the last quarter. Invesco Ltd. grew its holdings in Ally Financial by 18.7% during the 4th quarter. Invesco Ltd. now owns 943,547 shares of the financial services provider’s stock valued at $42,733,000 after buying an additional 148,409 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Ally Financial by 171.6% during the 4th quarter. Corient Private Wealth LLC now owns 98,606 shares of the financial services provider’s stock valued at $4,466,000 after buying an additional 62,306 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Ally Financial by 11.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 85,176 shares of the financial services provider’s stock worth $3,858,000 after acquiring an additional 8,866 shares during the last quarter. Finally, Vident Advisory LLC purchased a new stake in shares of Ally Financial in the fourth quarter valued at $202,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.