Ally Financial (NYSE:ALLY) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Ally Financial (NYSE:ALLY) announced its quarterly earnings data on Tuesday. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.03), FiscalAI reports. The business had revenue of $2.28 billion for 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 Stock Performance

Ally Financial stock opened at $45.48 on Tuesday. The firm has a 50 day simple moving average of $44.15 and a 200-day simple moving average of $42.64. Ally Financial has a 1-year low of $35.92 and a 1-year high of $47.29. 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 stock has a market cap 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.

Ally Financial Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on ALLY shares. JPMorgan Chase & Co. lowered their target price on Ally Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. The Goldman Sachs Group increased their price target on Ally Financial from $50.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 20th. Weiss Ratings raised Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Royal Bank Of Canada boosted their price objective on Ally Financial from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Ally Financial currently has an average rating of “Moderate Buy” and an average price target of $53.79.

Insider Activity

In other news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the sale, the insider 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Safe Harbor Fiduciary LLC purchased a new stake in Ally Financial in the fourth quarter valued at $37,000. CIBC Private Wealth Group LLC grew its holdings in shares of Ally Financial by 805.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 896 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 797 shares during the period. Larson Financial Group LLC grew its holdings in shares of Ally Financial by 67.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,072 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 430 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of Ally Financial by 31.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,052 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 252 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Ally Financial by 374.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,166 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Company Profile

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.