Ally Financial Inc (NYSE:ALLY) Reports Quarterly Earnings, Beats Expectations of $0.10 EPS
Ally Financial Inc (NYSE:ALLY – Get Rating) announced its results on Thursday. The financial services provider reported earnings per share of $2.03 for the quarter, beating Thomson Reuters consensus estimate of $1.93 by $0.10, MarketWatch Earnings reports. The company posted revenue of $2.14 billion for the quarter, versus a consensus estimate of $2.13 billion. Ally Financial had a net margin of 37.29% and a return on equity of 21.51%. The company’s revenue for the quarter increased 10.2% year over year. In the same quarter a year earlier, the company posted earnings per share of $2.09.
NYSE ALLY opened at $41.22 on Friday. Ally Financial has a one-year low of $39.85 and a one-year high of $56.61. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 5.03, a growth price-to-earnings ratio of 0.18, and a beta of 1.36. The company has a debt ratio of 1.16, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50-day simple moving average is $45.41 and its two-hundred-day simple moving average is $48.09.
ALLY has been the subject of several recent analyst reports. Credit Suisse Group raised its price target on Ally Financial shares from $67.00 to $69.00 and gave the stock an “outperform” rating in a Monday, January 24 research note. JPMorgan Chase & Co. downgraded Ally Financial shares from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $65.00 to $56.00 in a note research on Wednesday, January 19. StockNews.com launched coverage on Ally Financial shares in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Morgan Stanley cut its price target on Ally Financial shares from $73.00 to $55.00 and set an “overweight” rating on the stock in a Monday, March 28 research note. Finally, Raymond James raised his price target on Ally Financial shares from $55.00 to $57.00 and gave the stock an “outperform” rating in a Thursday, Jan. 6, research note. Five analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat.com, Ally Financial currently has a consensus rating of “Buy” and an average target price of $62.55.
In other news, insider Jason E. Schugel sold 2,500 shares of the company in a trade dated Tuesday, March 1. The shares were sold at an average price of $49.21, for a total value of $123,025.00. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, insider Douglas R. Timmerman sold 2,916 shares of the company in a trade dated Tuesday, February 1. The shares were sold at an average price of $47.78, for a total transaction of $139,326.48. The disclosure of this sale can be found here. 0.57% of the shares are currently held by insiders of the company.
Hedge funds have recently increased or reduced their holdings in the stock. Parametric Portfolio Associates LLC increased its stake in Ally Financial by 5.6% in the fourth quarter. Parametric Portfolio Associates LLC now owns 729,373 shares of the financial services provider worth $34,725,000 after purchasing an additional 38,978 shares in the last quarter. Stifel Financial Corp increased its position in Ally Financial by 60.4% during the fourth quarter. Stifel Financial Corp now owns 102,157 shares of the financial services provider worth $4,864,000 after buying an additional 38,471 shares in the last quarter. Vident Investment Advisory LLC increased its position in Ally Financial by 2.8% during the 4th quarter. Vident Investment Advisory LLC now owns 52,206 shares of the financial services provider worth $2,485,000 after purchasing an additional 1,420 shares in the last quarter. Lombard Odier Asset Management USA Corp raised its position in Ally Financial by 3.8% in the fourth quarter. Lombard Odier Asset Management USA Corp now owns 40,666 shares of the financial services provider worth $1,936,000 after buying an additional 1,500 shares in the last quarter. Finally, Toroso Investments LLC increased its position in Ally Financial by 25.8% during the 4th quarter. Toroso Investments LLC now owns 9,681 shares of the financial services provider worth $461,000 after buying an additional 1,985 shares in the last quarter. Institutional investors hold 92.69% of the company’s shares.
About Ally Financial (Get a rating)
Ally Financial Inc, a digital financial services company, provides various digital financial products and services to consumers, businesses and enterprises primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations and Corporate Finance Operations.
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