An issue of Ally Financial Inc (NYSE:ALLY) debt fell 1.6% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 5.75% coupon and is set to mature on November 20, 2025. The bonds in the issue are now trading at $103.87 and were trading at $104.13 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
Several equities research analysts recently commented on ALLY shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $28.00 price objective (up from $26.00) on shares of Ally Financial in a research report on Thursday, November 30th. BMO Capital Markets cut shares of Ally Financial from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research report on Wednesday, January 31st. Zacks Investment Research raised shares of Ally Financial from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, January 2nd. Jefferies Group reiterated a “buy” rating and issued a $35.00 price target on shares of Ally Financial in a research note on Thursday, January 11th. Finally, ValuEngine upgraded shares of Ally Financial from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $32.56.
Shares of Ally Financial Inc (ALLY) traded down $0.52 during mid-day trading on Thursday, reaching $27.89. 1,890,382 shares of the company’s stock traded hands, compared to its average volume of 3,700,000. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 3.32. Ally Financial Inc has a 12-month low of $18.11 and a 12-month high of $31.29. The firm has a market cap of $12,330.00, a price-to-earnings ratio of 12.13, a P/E/G ratio of 0.75 and a beta of 1.39.
Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.11. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. Ally Financial had a net margin of 13.73% and a return on equity of 8.10%. Ally Financial’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. equities analysts expect that Ally Financial Inc will post 3.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, January 31st. This is a positive change from Ally Financial’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.86%. Ally Financial’s payout ratio is currently 22.61%.
Institutional investors have recently added to or reduced their stakes in the company. Tiedemann Wealth Management LLC increased its stake in shares of Ally Financial by 70.4% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 20,169 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 8,332 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Ally Financial by 23.0% during the 2nd quarter. Toronto Dominion Bank now owns 5,714 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 1,070 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Ally Financial during the 4th quarter worth about $132,000. Meeder Asset Management Inc. acquired a new position in shares of Ally Financial during the 4th quarter worth about $140,000. Finally, Global Trust Asset Management LLC acquired a new position in shares of Ally Financial during the 4th quarter worth about $163,000.
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About Ally Financial
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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