Ally Financial Inc (NYSE:ALLY) – Research analysts at Oppenheimer cut their FY2019 earnings per share (EPS) estimates for Ally Financial in a report released on Wednesday, October 16th. Oppenheimer analyst D. Gabriele now expects that the financial services provider will post earnings of $3.71 per share for the year, down from their prior estimate of $3.73. Oppenheimer also issued estimates for Ally Financial’s Q4 2019 earnings at $0.94 EPS and FY2020 earnings at $4.25 EPS.
Several other research firms have also commented on ALLY. Citigroup cut their price target on Ally Financial from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Barclays lifted their price target on Ally Financial from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Nomura lifted their price target on Ally Financial from $29.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. BTIG Research lifted their price target on Ally Financial to $39.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Stephens raised Ally Financial from an “equal” rating to a “weight” rating and lifted their price target for the stock from $37.00 to $44.00 in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Ally Financial has an average rating of “Hold” and an average target price of $36.58.
Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.98 by $0.03. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. Ally Financial had a return on equity of 10.83% and a net margin of 26.29%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share.
Several large investors have recently added to or reduced their stakes in ALLY. Carroll Financial Associates Inc. acquired a new position in shares of Ally Financial in the second quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Ally Financial in the second quarter valued at approximately $49,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Ally Financial by 102.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,242 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,132 shares in the last quarter. SG3 Management LLC purchased a new stake in shares of Ally Financial in the second quarter valued at approximately $73,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in shares of Ally Financial in the second quarter valued at approximately $96,000. 95.88% of the stock is currently owned by institutional investors and hedge funds.
In other news, CAO David J. Debrunner sold 2,222 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $33.43, for a total value of $74,281.46. Following the transaction, the chief accounting officer now owns 99,091 shares of the company’s stock, valued at $3,312,612.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 6,666 shares of company stock worth $216,556. Corporate insiders own 0.35% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, October 31st. Ally Financial’s payout ratio is currently 20.36%.
About Ally Financial
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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