Ally Financial (NYSE:ALLY) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

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

Ally Financial Stock Performance

ALLY opened at $38.71 on Friday. The company has a 50 day simple moving average of $37.65 and a two-hundred day simple moving average of $32.82. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $11.77 billion, a P/E ratio of 12.95, a PEG ratio of 0.53 and a beta of 1.40. Ally Financial has a 1-year low of $22.54 and a 1-year high of $41.56.

Ally Financial Announces Dividend

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

Institutional Trading of Ally Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Hobbs Group Advisors LLC purchased a new stake in Ally Financial in the 4th quarter worth $46,000. Public Employees Retirement System of Ohio raised its stake in Ally Financial by 8.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 133,559 shares of the financial services provider’s stock valued at $4,664,000 after purchasing an additional 10,533 shares during the period. Employees Retirement System of Texas purchased a new position in Ally Financial in the 4th quarter worth approximately $19,568,000. LifePro Asset Management bought a new position in Ally Financial in the 4th quarter worth approximately $3,595,000. Finally, Voya Investment Management LLC grew its holdings in Ally Financial by 14.0% during the 4th quarter. Voya Investment Management LLC now owns 152,511 shares of the financial services provider’s stock valued at $5,326,000 after buying an additional 18,753 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALLY has been the topic of several recent analyst reports. Raymond James cut Ally Financial from a “market perform” rating to an “underperform” rating in a research report on Friday, January 5th. TheStreet upgraded shares of Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. 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 objective on the stock. JPMorgan Chase & Co. lowered shares of Ally Financial from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $37.00 to $39.00 in a research note on Wednesday, April 3rd. Finally, Barclays raised their price target on Ally Financial from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Ally Financial currently has an average rating of “Hold” and an average price target of $37.59.

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.