Ally Financial Inc (NYSE:ALLY) declared a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Investors of record on Wednesday, May 1st will be given a dividend of 0.17 per share by the financial services provider on Wednesday, May 15th. This represents a $0.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, April 30th.
Ally Financial has a payout ratio of 22.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ally Financial to earn $4.03 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 16.9%.
NYSE:ALLY opened at $29.91 on Thursday. The firm has a market capitalization of $11.94 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.50 and a beta of 1.36. Ally Financial has a 12-month low of $20.60 and a 12-month high of $30.20. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 3.33.
Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.53 billion. Ally Financial had a return on equity of 11.01% and a net margin of 23.12%. Ally Financial’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. Equities research analysts predict that Ally Financial will post 3.62 earnings per share for the current year.
Ally Financial declared that its board has initiated a share buyback plan on Monday, April 1st that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 10.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
ALLY has been the topic of a number of analyst reports. Oppenheimer set a $33.00 price target on Ally Financial and gave the company a “buy” rating in a research note on Wednesday, April 17th. Zacks Investment Research upgraded Ally Financial from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Thursday, April 11th. Morgan Stanley raised their price target on Ally Financial from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday. ValuEngine upgraded Ally Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, BMO Capital Markets raised their price target on Ally Financial to $39.00 and gave the company a “market perform” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.85.
In other news, CEO Jeffrey Jonathan Brown sold 97,311 shares of Ally Financial stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $27.01, for a total transaction of $2,628,370.11. Following the sale, the chief executive officer now owns 632,569 shares in the company, valued at $17,085,688.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David J. Debrunner sold 2,222 shares of Ally Financial stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $27.73, for a total value of $61,616.06. Following the sale, the chief accounting officer now owns 112,423 shares in the company, valued at approximately $3,117,489.79. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.
Ally Financial Company Profile
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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