Ally Financial Inc. (NYSE:ALLY - Get Free Report) insider Kathleen Patterson sold 12,831 shares of the company's stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $38.65, for a total value of $495,918.15. Following the sale, the insider directly owned 67,781 shares in the company, valued at $2,619,735.65. This represents a 15.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ally Financial Stock Up 1.5%
Shares of NYSE ALLY opened at $39.25 on Friday. The stock has a market cap of $11.94 billion, a P/E ratio of 8.15, a PEG ratio of 0.29 and a beta of 1.11. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 1.45. Ally Financial Inc. has a 12-month low of $35.92 and a 12-month high of $47.29. The business's fifty day simple moving average is $40.35 and its 200-day simple moving average is $42.67.
Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Tuesday, October 20th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. Ally Financial had a return on equity of 12.11% and a net margin of 16.84%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the business posted $1.15 earnings per share. Ally Financial's revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that Ally Financial Inc. will post 4.98 EPS for the current fiscal year.
Ally Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, November 2nd. This is a boost from Ally Financial's previous quarterly dividend of $0.30. Ally Financial's dividend payout ratio (DPR) is 28.30%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on ALLY shares. JPMorgan Chase & Co. upped their target price on shares of Ally Financial from $43.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday. Citigroup decreased their price target on shares of Ally Financial from $58.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, September 25th. Evercore set a $40.00 price target on shares of Ally Financial in a report on Wednesday. TD Cowen dropped their price objective on shares of Ally Financial from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Bank of America increased their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ally Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.21.
Read Our Latest Stock Report on Ally Financial
Institutional Trading of Ally Financial
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Ally Financial during the 2nd quarter worth about $1,315,659,000. Berkshire Hathaway Inc acquired a new stake in shares of Ally Financial during the 2nd quarter worth about $1,240,650,000. Dimensional Fund Advisors LP raised its position in shares of Ally Financial by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider's stock worth $353,776,000 after acquiring an additional 309,638 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Ally Financial by 11.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,783,947 shares of the financial services provider's stock worth $266,134,000 after acquiring an additional 712,443 shares in the last quarter. Finally, Donald Smith & CO. Inc. purchased a new stake in Ally Financial during the second quarter worth approximately $172,509,000. 88.76% of the stock is owned by hedge funds and other institutional investors.
More Ally Financial News
Here are the key news stories impacting Ally Financial this week:
- Positive Sentiment: Ally reported third-quarter earnings of $1.34 per share, slightly above the $1.33 consensus estimate, while revenue rose 6.1% year over year to $2.35 billion. Management also raised its dividend by 17%, supporting the income-investment case. Ally Reports Q3 Earnings, Raises Dividend 17%
- Positive Sentiment: Management expects full-year net interest margin of 3.6%-3.65% and raised its average earning-asset growth outlook to 5%-6%, indicating improving loan and balance-sheet momentum. Ally NIM and Growth Outlook
- Positive Sentiment: JPMorgan raised its price target to $44 and maintained an overweight rating, while TD Cowen retained a buy rating despite reducing its target to $52. These targets imply substantial potential upside from recent trading levels. ALLY Q3 Deep Dive
- Neutral Sentiment: An insider sold 12,831 shares, but the filing states the transaction covered tax withholding tied to vested equity awards, making it a limited signal of management sentiment. SEC Insider Transaction Filing
- Negative Sentiment: Evercore ISI downgraded Ally from outperform/strong-buy to in-line/hold, citing net interest margin pressure and credit-cost risk. Auto delinquencies and charge-offs are rising alongside originations, creating concern that growth may come with weaker asset quality. Evercore ISI Ally Downgrade
Ally Financial Company Profile
(
Get Free Report)
Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan, and traded on the New York Stock Exchange under the symbol ALLY. The company primarily serves consumers, automotive dealers and businesses in the United States through online and branchless banking and financing platforms.
Ally's automotive finance business provides retail installment loans and leases to consumers and floorplan financing and other services to automotive dealers. Its consumer banking operations, conducted through Ally Bank, offer deposit products such as savings accounts, money market accounts and certificates of deposit, along with consumer lending products.
The company also provides credit cards and commercial financing, and offers investment and brokerage services through Ally Invest.
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