Ally Financial Inc. (NYSE:ALLY) Announces $0.30 Quarterly Dividend
by Teresa Graham · The Cerbat GemAlly Financial Inc. (NYSE:ALLY – Get Free Report) declared a quarterly dividend on Tuesday, April 14th. Shareholders of record on Friday, May 1st will be given a dividend of 0.30 per share by the financial services provider on Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, May 1st.
Ally Financial has raised its dividend by an average of 0.1%annually over the last three years. Ally Financial has a payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ally Financial to earn $5.47 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 21.9%.
Ally Financial Stock Down 0.8%
NYSE:ALLY opened at $42.23 on Thursday. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 0.21 and a beta of 1.14. Ally Financial has a twelve month low of $29.91 and a twelve month high of $47.27. The stock’s 50 day moving average price is $39.97 and its two-hundred day moving average price is $41.22. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30.
Ally Financial (NYSE:ALLY – Get Free Report) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts expect that Ally Financial will post 3.57 earnings per share for the current fiscal year.
Insider Buying and Selling at Ally Financial
In related news, CFO Russell E. Hutchinson bought 11,566 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was bought at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the purchase, the chief financial officer owned 225,336 shares in the company, valued at $9,727,755.12. This represents a 5.41% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael George Rhodes bought 23,800 shares of Ally Financial stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average cost of $41.68 per share, with a total value of $991,984.00. Following the acquisition, the chief executive officer directly owned 49,434 shares in the company, valued at $2,060,409.12. This trade represents a 92.85% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.46% of the stock is owned by insiders.
Institutional Investors Weigh In On Ally Financial
Several hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Ally Financial during the fourth quarter worth approximately $29,000. Fideuram Asset Management Ireland dac bought a new position in shares of Ally Financial during the fourth quarter worth approximately $35,000. Mather Group LLC. acquired a new stake in Ally Financial during the 3rd quarter worth approximately $31,000. Safe Harbor Fiduciary LLC acquired a new stake in Ally Financial during the 4th quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Ally Financial in the 4th quarter valued at $38,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.
About Ally Financial
Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.
In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.