Several other equities research analysts have also commented on the stock. Morgan Stanley lowered shares of Silicon Motion Technology from an equal weight rating to an underweight rating in a research note on Monday, April 22nd. BTIG Research boosted their price objective on shares of Ally Financial to $39.00 and gave the stock a buy rating in a research note on Friday, July 19th. Citigroup set a $95.00 price objective on shares of iRobot and gave the stock a hold rating in a research note on Wednesday, July 3rd. BMO Capital Markets set a $44.00 price objective on shares of Schlumberger and gave the stock a hold rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research lowered shares of EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $34.75.
Shares of ALLY opened at $33.71 on Friday. The company’s 50-day moving average is $30.87. The company has a market cap of $13.31 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 0.64 and a beta of 1.31. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.11 and a quick ratio of 1.11. Ally Financial has a 1-year low of $20.60 and a 1-year high of $33.92.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. Ally Financial had a net margin of 26.59% and a return on equity of 11.09%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. As a group, sell-side analysts expect that Ally Financial will post 3.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.02%. The ex-dividend date is Wednesday, July 31st. Ally Financial’s payout ratio is currently 20.36%.
Ally Financial declared that its Board of Directors has initiated a stock repurchase program on Monday, April 1st that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 10.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of Ally Financial stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.80, for a total value of $63,993.60. Following the completion of the transaction, the chief accounting officer now directly owns 107,979 shares of the company’s stock, valued at $3,109,795.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mayree C. Clark bought 5,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $29.71 per share, with a total value of $148,550.00. Following the completion of the acquisition, the director now directly owns 46,248 shares of the company’s stock, valued at approximately $1,374,028.08. The disclosure for this purchase can be found here. Insiders sold 21,666 shares of company stock valued at $700,052 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.
A number of institutional investors have recently modified their holdings of ALLY. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Ally Financial in the first quarter worth about $31,000. Carroll Financial Associates Inc. purchased a new position in Ally Financial in the second quarter worth about $40,000. Truvestments Capital LLC purchased a new position in shares of Ally Financial during the first quarter valued at approximately $74,000. Private Capital Group LLC raised its holdings in shares of Ally Financial by 69.8% during the first quarter. Private Capital Group LLC now owns 3,090 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 1,270 shares during the last quarter. Finally, QS Investors LLC raised its holdings in shares of Ally Financial by 7,547.2% during the fourth quarter. QS Investors LLC now owns 8,106 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 8,000 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.
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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